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: FireEye, Inc. FEYE EVP and CRO William Robbins acquired a total of 26000 shares at an average price of $16.92. The insider spent $439,868.00 to acquire those share.
What’s Happening: FireEye, last week, reported weaker-than-expected sales for its second quarter.
What FireEye Does: FireEye is a pure-play cybersecurity firm that offers solutions for networks, endpoints, and email.
The Trade: The Coca-Cola Company KO SVP and General Counsel Monica Howard Douglas acquired a total of 15986 shares at an average price of $34.35. To acquire these shares, it cost $549,159.07. The insider also sold a total of 12089 shares.
What’s Happening: Coca-Cola, last month, reported better-than-expected Q2 results.
What Coca-Cola Does: Coca-Cola is the largest nonalcoholic beverage entity in the world, owning and marketing some of the leading carbonated beverage brands, such as Coke, Fanta, and Sprite, as well as nonsparkling brands, such as Minute Maid, Georgia Coffee, Costa, and Glaceau.
Lions Gate Entertainment
What’s Happening: Lionsgate, last week, reported first-quarter revenue of $901.2 million.
What Lions Gate Entertainment Does: Lions Gate Entertainment Corp is a filmed entertainment studio with a presence in motion pictures, television programming, home entertainment, and digitally delivered content.
The Trade: HollyFrontier Corporation HFC Director Michael Rose acquired a total of 13500 shares at an average price of $28.92. To acquire these shares, it cost 390,420.00.
What’s Happening: HollyFrontier, last week, reported upbeat results for its second quarter.
What HollyFrontier Does: HollyFrontier is an independent petroleum refiner that owns and operates four refineries serving the Rockies, midcontinent, and Southwest, with a total crude oil throughput capacity of 405,000 barrels per day.
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