Congressman Buys Shares Of Small Cap Lift Truck Company You've Probably Never Heard Of

A congressman disclosed several notable stock transactions recently, including buying up shares of restaurant company Cracker Barrel after its logo change backlash. The congressman also bought shares of a small cap lift truck company that could draw more attention.

• Hyster Yale stock is trading near recent lows. What’s the outlook for HY shares?

Congressman Goes Small Cap Shopping

Rep. Tim Moore (R-N.C.) recently disclosed multiple purchases of shares of Hyster-Yale Inc (NYSE:HY), a small cap lift truck company, according to his Benzinga Government Trades Page.

Here are the transactions:

• Nov. 3: Bought $50,000 to $100,000 in HY shares
• Nov. 5: Bought $15,000 to $50,000 in HY shares
• Nov. 12: Bought $50,000 to $100,000 in HY shares
• Nov. 14: Bought $15,000 to $50,000 in HY shares
• Nov. 20: Bought $15,000 to $50,000 in HY shares

In total, Moore purchased $145,000 to $350,000 in shares of the company. The current market capitalization of the company is around $620 million. The size of the purchases and the size of the company have drawn attention on social media.

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Moore's Transactions On Watch

This isn't the first transaction involving Hyster-Yale from Moore. The congressman recently reported buying and selling Hyster-Yale shares in October, buying up $80,000 to $200,000 in shares between Oct. 8 and Oct. 14 and selling between $100,000 and $250,000 shares later on Oct. 24.

Moore also bought and sold shares in September, selling shares eight days after his purchase.

The congressman's latest purchase didn't show any sales this time, but his trades will be closely monitored going forward.

Shares of Hyster-Yale surged on Wednesday as news of his purchases circulated. The stock traded at $28.12, the last day the congressman was buying shares, and is currently trading at $35.03.

Hyster-Yale has signed government contracts in the past and future contract awards would make this trade even more questionable.

Moore serves on the House Committee on Financial Services and the House Committee on the Budget.

Along with Hyster-Yale, Moore also made another purchase in November that will draw attention. The congressman bought $1,000 to $15,000 in shares of Genprex (NASDAQ:GNPX).

The clinical stage gene therapy company has a market capitalization of less than $10 million, making this one of the smallest stocks ever purchased by a member of Congress. Moore also bought $15,000 to $50,00 in Genprex shares in October.

Moore's trades are expected to draw increased scrutiny in the months ahead.

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