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: TimkenSteel Corporation (NYSE:TMST) Director Ken Garcia V acquired a total of 26670 shares at an average price of $14.89. To acquire these shares, it cost $397,036.93.
- What’s Happening: The company recently posted upbeat Q3 results.
- What TimkenSteel Does: TimkenSteel is an America-based manufacturer of alloy steel, as well as carbon and micro-alloy steel. TimkenSteel's portfolio includes special bar quality steel, seamless mechanical tubes, and value-add solutions, such as precision steel components
- The Trade: Whiting Petroleum Corporation (NYSE:WLL) Insider Rice Iv, Daniel J. acquired a total of 15150 shares at an average price of $67.66. To acquire these shares, it cost $1,025,027.69.
- What’s Happening: Whiting Petroleum recently reported better-than-expected Q3 results.
- What Whiting Petroleum Does: Whiting Petroleum Corp is a US-based independent oil and gas company. It is engaged in the development, production, acquisition, and exploration activities primarily in the Rocky Mountains region of the United States.
- The Trade: Jackson Financial Inc. (NYSE:JXN) Vice Chairman at Jackson Holdings LLC Chadwick Paul Myers bought a total of 38925 shares at an average price of $32.95. To acquire these shares, it cost $1,282,634.75.
- What’s Happening: Jackson Financial recently reported a year-over-year increase in sales and announced a $300 million buyback.
- What Jackson Financial Does: Jackson Financial Inc helps Americans grow and protect their retirement savings and income to enable them to pursue financial freedom for life.
- The Trade: Tidewater Inc. (NYSE:TDW) 10% owner Robert Robotti bought a total of 40000 shares at an average price of $11.92. The insider spent $476,616.30 to buy those shares.
- What’s Happening: The company recently reported a wider-than-expected quarterly loss.
- What Tidewater Does: Tidewater Inc provides offshore service vessels and marine support services to the global offshore energy industry through the operation of a diversified fleet of marine service vessels.