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: Anthem, Inc ANTM Director Ryan Schneider acquired a total of 1300 shares at an average price of $384.36. The insider spent $499,668.00 to buy the stock.
What’s Happening: Anthem recently reported upbeat results for its second quarter and raised FY21 earnings outlook. The company’s shares have jumped around 20% since the start of the year.
What Anthem Does: Anthem is one of the largest private health insurance organizations nationwide, providing medical benefits to roughly 43 million medical members.
The Trade: Vertex Energy Inc. VTNR Director David L Phillips acquired a total of 120000 shares at an average price of $1.67. To acquire these shares, the insider spent $200,400.00. The insider also sold 72172 shares at an average price of $9.00.
What’s Happening: Vertex Energy, last month, announced an agreement to divest its used motor oil collection and recycling assets for $140 million.
What Vertex Energy Does: Vertex Energy Inc is an environmental services company that recycles industrial waste streams and off-specification commercial chemical products.
The Trade: Natera, Inc. NTRA Director James Healy bought a total of 2400 shares at an average price of $113.00. To acquire those shares, it cost $271,200.00 for the insider.
What’s Happening: Natera recently priced its 4.5 million share secondary offering at $113 per share. The company’s stock is up more than 12% since the start of the year.
What Natera Does: Natera Inc is operative in the healthcare field in the United States. Its core business is to offer invasive and other means of diagnosing the genetic features of a fetus.
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