By Ben Glickman
Shares of Calavo Growers rose Monday after Chief Executive Lee Cole disclosed a purchase of $2.3 million in stock.
The stock was up 16% to $35.76 in morning trading. Shares are up 22% year to date.
The Santa Paula, Calif.-based avocado grower disclosed that Cole, who returned to the company in March after serving as CEO from 1999 to 2020, had purchased 75,000 shares of Calavo Growers at $30.34 a share on July 12 and 13.
Shares of Calavo Growers are on pace for their largest percent rise since Dec. 20, 2016, and their highest close since Dec. 6, 2022.
Cole now directly owns 515,000 shares in the company, valued at $15.9 million as of Friday’s close.
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