Although US stocks closed higher on Wednesday, there were a few notable insider trades.
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: Charter Communications, Inc. CHTR Director Steven A Miron acquired a total of 2,500 shares an average price of $384.35. To acquire these shares, it cost around $960.87 thousand.
What’s Happening: Charter Communications reported worse-than-expected Q4 EPS and sales results.
What Charter Communications Does: Charter is the product of the 2016 merger of three cable companies, each with a decades-long history in the business: Legacy Charter, Time Warner Cable, and Bright House Networks.
Mid Penn Bancorp
The Trade: Mid Penn Bancorp, Inc. MPB Director John E Noone acquired a total of 2,000 shares at an average price of $30.69. To acquire these shares, it cost around $61.38 thousand.
What’s Happening: Mid Penn Bancorp reported upbeat quarterly earnings.
What Mid Penn Bancorp Does: Mid Penn Bancorp Inc operates in the financial services domain.
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The Trade: NGM Biopharmaceuticals, Inc. NGM 10% owner TCG Opportunity III GP, LLC bought a total of 184,272 shares at an average price of $5.00. To acquire these shares, it cost around $921.11 thousand.
What’s Happening: NGM Bio, last month, outlines corporate strategy and issued guidance on key priorities.
What NGM Biopharmaceuticals Does: NGM Biopharmaceuticals Inc is a clinical-stage biopharmaceutical company.
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