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: Sensient Technologies Corporation SXT 10% owner Winder Investment Pte Ltd, Haldor Foundation, Freemont Capital Pte Ltd acquired a total of 27377 shares at an average price of $91.16. The insider spent $2,495,698.96 to acquire those shares.
What’s Happening: In July, the company reported upbeat quarterly results.
What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.
The Trade: The AES Corporation AES Director Maura Shaughnessy acquired a total of 30000 shares at an average price of $23.79. To acquire these shares, it cost $713,822.50.
What’s Happening: AES recently reported acquisition of a 49.9% stake in AES Colón.
What AES Does: AES is a global power company with businesses in 14 countries. It has a portfolio of more than 100 power plants and wind and solar farms.
The Trade: Gannett Co., Inc. GCI Director Laurence Tarica bought a total of 26000 shares at an average price of $6.42. To acquire these shares, it cost $166,920.00.
What’s Happening: Gannett recently announced the launch of USA TODAY Sports+, an all-new premium digital subscription product.
What Gannett Does: Gannett Co Inc is a digital newspaper company providing local media and marketing solutions in the U.S.
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