08:24 AM EDT, 08/27/2024 (MT Newswires) -- CNX Resources ( CNX ) was the stock pick of the week from Smart Insider after a member of the company's board bought 75,000 shares on Aug. 20 at $26.74 apiece.

Director Bernard Lanigan's $2 million purchase is indirect for Conifer Partners and increases his total direct and indirect holdings to 1.3 million shares, Smart Insider said in a note to clients.

Smart Insider said that last year, it assigned a positive rank to the stock twice based mainly on purchases from Lanigan: on June 1 following a $2.1 million purchase from the director at $15.24 and in September on a purchase of $3.2 million at $21.95.

"Seeing him continue to add at a higher price is interesting," said Smart Insider, which ranked the stock "strong positive signal."