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: Arteris, Inc. AIP Director Wayne C Cantwell acquired a total of 47094 shares at an average price of $18.75.
What’s Happening: The company, last week, priced its IPO at $14 per share.
What Arteris Does: Arteris is a provider of network-on-chip interconnect semiconductor intellectual property (IP) and IP deployment technology to accelerate system-on-chip semiconductor development and integration for a wide range of applications from AI to automobiles, mobile phones, IoT, cameras, SSD controllers, and servers for customers such as Bosch, Baidu, Mobileye, Samsung, Toshiba and NXP.
The Trade: Superior Industries International, Inc. SUP 10% owner Mill Road Capital Iii Lp, Mill Road Capital Iii GP Llc, Thomas Lynch acquired a total of 22100 shares at an average price of $10.00. To acquire these shares, it cost $221,000.00.
What’s Happening: Superior Industries International is expected to release financial results for the third quarter ended September 30, 2021, on Wednesday, November 3, 2021.
What Superior Industries Does: Superior Industries International Inc is a manufacturer of aluminum wheels for passenger automobiles and light-duty vehicles.
Beacon Roofing Supply
The Trade: Beacon Roofing Supply, Inc. BECN 10% owner Cdr Investment Associates Ix Ltd, Cdr Boulder Holdings Lp bought a total of 116945 shares at an average price of $51.31. The insider spent $5,999,980.17 to buy those shares.
What’s Happening: RBC Capital, last month, upgraded Beacon Roofing Supply to Outperform from Sector Perform with an unchanged price target of $63.
What Beacon Roofing Supply Does: Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada. Beacon's key customers consist of contractors, home builders, retailers, wholesale distributors, and building materials suppliers.
The Trade: Xerox Holdings Corporation XRX Director Scott Letier bought a total of 4384 shares at an average price of $17.84. The insider spent $78,230.71 to buy those shares.
What’s Happening: Xerox recently reported worse-than-expected Q3 sales and issued FY21 sales guidance below estimates..
What Xerox Does: Xerox is an original equipment manufacturing and software company. Xerox operates in one segment--design, development and sale of printing technology and related solutions--while deriving 60% of its revenue from the U.S., and 40% from international markets.
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