When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.
The Trade: Sensient Technologies Corporation (NYSE:SXT) 10% owner Winder Investment Pte Ltd, Haldor Foundation, Freemont Capital Pte Ltd acquired a total of 26965 shares at an average price of $89.92. The insider spent $2,424,740.80 to acquire those shares.
What’s Happening: In July, Sensient reported upbeat quarterly results.
What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.
What’s Happening: Anterix agreed to a long-term lease of its 900 MHz broadband spectrum throughout Evergy’s 28,130-square mile service territory in Kansas and Missouri..
What Evergy Does: Evergy is a regulated electric utility serving eastern Kansas and western Missouri.
Alpine Immune Sciences
What’s Happening: Alpine Immune Sciences recently reported $91 million private placement.
What Alpine Immune Sciences Does: Alpine Immune Sciences is a clinical-stage biopharmaceutical company. It is engaged in discovering and developing innovative, protein-based immunotherapies to treat cancer and autoimmune and inflammatory diseases.