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.
Red Robin Gourmet Burgers
The Trade: Red Robin Gourmet Burgers, Inc. RRGB President and CEO Paul Murphy III acquired a total of 10000 shares at an average price of $22.57. The insider spent $225,700.00 to acquire those share.
What’s Happening: Red Robin, last week, reported worse-than-expected Q2 sales results.
What Red Robin Gourmet Burgers Does: Red Robin Gourmet Burgers is a restaurant operator. The company develops, operates, and franchises casual-dining restaurants and fast-casual restaurants in North America.
Callon Petroleum
The Trade: Callon Petroleum Company CPE 10% owner Kimmeridge Energy Management Company Llc acquired a total of 602503 shares at an average price of $27.24. To acquire these shares, it cost $16,413,721.65.
What’s Happening: Morgan Stanley, on Monday, maintained Callon Petroleum with an Equal-Weight and lowered the price target from $49 to $38.
What Callon Petroleum Does: Callon Petroleum Company engages in the exploration, development, acquisition, and production of oil and natural gas.
Willis Lease Finance
The Trade: Willis Lease Finance Corporation WLFC CEO Charles F. Willis IV bought a total of 13360 shares at an average price of $37.43. The insider spent $500,064.80 to acquire those shares.
What’s Happening: The company, earlier during the month, swung to a loss in the second quarter.
What Willis Lease Finance Does: Willis Lease Finance Corp is a US-based aviation service provider. The company along with its subsidiaries involves in the leasing of commercial aircraft and engines.
DXC Technology
The Trade: DXC Technology Company DXC Director Raul Fernandez acquired a total of 7270 shares at an average price of $35.80. To acquire these shares, it cost $59,784.11.
What’s Happening: Susquehanna, on Tuesday, upgraded DXC Technology from Neutral to Positive.
What DXC Technology Does: DXC Technology is a vendor-independent IT services provider that started trading in April 2017.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
