3 Stocks Insiders Are Buying

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.

A-Mark Precious Metals

The Trade: A-Mark Precious Metals, Inc. AMRK Director Kendall Saville acquired a total of 4857 shares at an average price of $58.00. The insider spent $281,706.00 to acquire those shares.

What’s Happening: The company, earlier during the month, reported better-than-expected quarterly results.

What A-Mark Precious Metals Does: A-Mark Precious Metals is a precious metal trading company. It is principally engaged in the wholesale of gold, silver, platinum and palladium bullion and related products in the form of bars, wafers, coins, and grains.

Gulfport Energy

The Trade: Gulfport Energy Corporation GPOR Director Silver Point Capital Lp, Edward Mule, Robert Oshea acquired a total of 22000 shares at an average price of $79.63. To acquire these shares, it cost $1,751,860.00.

What’s Happening: Reuters recently reported that Gulfport Energy is working with an adviser on a potential sale.

What Gulfport Energy Does: Gulfport Energy is an independent exploration and development company. The company operates through Utica Shale and Scoop properties.

Hibbett

The Trade: Hibbett, Inc. HIBB SVP General Counsel David M. Benck bought a total of 2000 shares at an average price of $74.34. To acquire these shares, it cost $148,676.20.

What’s Happening: Hibbett, last month, reported a second-quarter FY22 sales decline of 5.1% year on year, to $419.26 million.

What Hibbett Does: Hibbett is engaged in the retail of sports goods. The company operates small to midsize stores and focuses its business in the South, Southwest, mid-Atlantic, and Midwest areas of the country.