$10 Million Bet On This Consumer Cyclical Stock? 4 Stocks Insiders Are Buying

Although US stocks closed lower on Monday, there were a few notable insider trades.

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.

Mobileye Global

• The Trade: Mobileye Global Inc. MBLY CEO and President Amnon Shashua acquired a total of 476,191 shares an average price of $21.00. To acquire these shares, it cost around $10 million.
• What’s Happening: Mobileye recently priced 41 million shares at $21 per share to raise $861 million after marketing the shares for $18 - $20.
• What Mobileye Global Does: Mobileye Global Inc engages in the development and deployment of ADAS and autonomous driving technologies and solutions.

Allegion

• The Trade: Allegion plc ALLE President and CEO John Stone acquired a total of 12,500 shares at an average price of $104.45. To acquire these shares, it cost around $1.31 million.
• What’s Happening: The company recently posted upbeat quarterly earnings.
• What Allegion Does: Allegion is a global security products company with a portfolio of leading brands, such as Schlage, von Duprin, and LCN.

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TriMas

• The Trade: TriMas Corporation TRS President and CEO Thomas Amato bought a total of 5,000 shares at an average price of $22.37. To acquire these shares, it cost around $111.85 thousand.
• What’s Happening: TriMas recently reported worse-than-expected Q3 adjusted EPS and sales results.
• What TriMas Does: TriMas Corp is a United States-based company that designs, manufactures, and distributes engineered and applied products.

Gentex

• The Trade: Gentex Corporation GNTX President and CEO Downing Steven R bought a total 10,000 shares at an average price of $25.74. The insider spent around $257.4 thousand to buy those shares.
• What’s Happening: Gentex recently reported third-quarter FY22 sales growth of 24% year-on-year to $493.6 million, missing the analyst consensus estimate of $496.29 million.
• What Gentex Does: Gentex was founded in 1974 to produce smoke-detection equipment.