PHINIA Inc (PHIN US, +1, 02-May-25)
Brady Ericson (CEO since 2023) purchased $397,000 of stock on the 30th of April at $39.73, increasing his stake by 2%. This is his second purchase since the spin-out from BorgWarner in June 2023. His first purchase was in a similar size at $28.92 in August 2023, and it’s encouraging to see him now buying at a price nearly 40% higher.
He has been a senior officer at BorgWarner since 2011, began working there in 1998, and is currently on the board of Fastenal.
Rohan Weerasinghe (Chair since 2023) purchased $262,000 of stock on the 14th of March at $42.78 in his first purchase since the spin-out. He is the former General Counsel at Citigroup. This is an encouraging cluster of buys. The company reported earnings on the 25th of April.
We are ranking the stock +1 (strongly positive signal).
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