Phinia (PHIN) was Smart Insider's stock pick of the week after the company's Chief Executive Brady Ericson bought $397,000 worth of Phinia's shares on Wednesday at $39.73 apiece, raising his ownership by 2%.
Ericson first bought the shares in 2023 in a similar size at $28.92 apiece, and its "encouraging" to see him purchasing stock at a price roughly 40% higher, Smart Insider said in a note Tuesday.
Additionally, Chair Rohan Weerasinghe also bought $262,000 worth of company shares on March 14 at $42.78 per share, the note added.
"This is an encouraging cluster of buys," according to the note.
Smart Insider ranked the stock +1, or strongly positive signal, on Friday.
Price: 41.59, Change: -0.35, Percent Change: -0.85
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