Azek Company Inc – (AZEK, +1, Feb 10th)
Brain Spaly (Director since 2020) purchased $491,000 worth of stock on February 7th at $30.70, increasing his holdings to 65,228 shares in his first open-market purchase since joining the board. Splay is the Executive Chairman of Tecovas, and the founder of Trunk Club and Bonobos.
We ranked this stock +N yesterday based on purchases of $276,000 from the Chief Legal Officer, $393,000 from the Chief Financial Officer, and $152,000 from another director. This is a solid cluster of buying, showing confidence at this price level.
The shares have recently declined from $46 in early January, but are still above its June 2020 IPO price of $23.
We are upgrading the stock further, from +N to +1.
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