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Another stock that insiders are jumping into here is
Annaly Capital Management (
NLY), which owns, manages and finances real estate related investments. Insiders are buying this stock into notable weakness, since shares are off by 19% so far in 2013.
Annaly Capital Management has a market cap of $10.75 billion and an enterprise value of $93.27 billion. This stock trades at a cheap valuation, with a trailing price-to-earnings of 3.27 and a forward price-to-earnings of 8.31. Its estimated growth rate for this year is 13.9%, and for next year it's pegged at -20.3%. This is not a cash-rich company, since the total cash position on its balance sheet is $3.45 billion and its total debt is a whopping $85.73 billion. This stock currently sports a dividend yield of 14%.
The CEO just
bought 181,818 shares, or about $1.99 million worth of stock, at $10.96 to $10.99 per share.
From a technical perspective, NLY is currently trending above its 50-day moving average and well below its 200-day moving average, which is neutral trendwise. This stock has been downtrending badly for the last six months, with shares plunging lower from its high of $15.51 to its recent low of $10.63 a share. During that move, shares of NLY have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of NLY have started to rebound off that $10.63 low and it's now moving within range of triggering a near-term breakout trade.
If you're in the bull camp on NLY, then look for long-biased trades as long as this stock is trending above its 50-day at $11.32 or above more near-term support at $11 and then once it breaks out above some near-term overhead resistance levels at $11.68 to $12.26 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 13.75 million shares. If that breakout triggers soon, then NLY will set up to re-test or possibly take out its next major overhead resistance levels at $12.80 to its 200-day moving average at $13.53 a share.