When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.
LiveOne
The Trade: LiveOne, Inc. LVO CEO and Chairman Robert S Ellin acquired a total of 35000 shares at an average price of $2.37. The insider spent $83,106.00 to buy those shares.
What’s Happening: LiveOne reported a media partnership with Empire Media Group for an eight-figure, multi-year deal.
What LiveOne Does: LiveOne Inc, formerly LiveXLive Media Inc is the premium internet networks devoted to live music and music-related video content.
Live Current Media
The Trade: Live Current Media Inc. LIVC Director Amir Vahabzadeh acquired a total of 102831 shares shares at an average price of $0.29. The insider spent $30,171.25 to buy those shares.
What’s Happening: The company’s stock has gained over 180% since the start of the year.
What Live Current Media Does: Live Current Media Inc is a digital technology company involved in the entertainment industry. Currently, the company is developing two projects, SPRT MTRX for App Store and Play Store and Boxing.com FEDERATION.
PHX Minerals
The Trade: PHX Minerals Inc. PHX 10% owner Jonathan Brolin acquired a total of 50999 shares at an average price of $3.05. To acquire these shares, it cost $155,406.54.
What’s Happening: PHX Minerals recently said it sold a package of 499 non-operated legacy working interest wellbores located in the Fayetteville Shale of Arkansas for $2,125,000.
What PHX Minerals Does: PHX Minerals, previously Panhandle Oil & Gas, is an oil and natural gas mineral company that has employed a strategy to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership.
MultiPlan
The Trade: MultiPlan Corporation MPLN Director Anthony Colaluca Jr acquired a total of 25000 shares shares at an average price of $3.96. The insider spent $99,000.00 to buy those shares.
What’s Happening: MultiPlan recently reported better-than-expected Q3 EPS and sales results and raised FY21 sales guidance.
What MultiPlan Does: MultiPlan Corp is committed to helping healthcare payors manage the cost of care, improve their competitiveness, and inspire positive change.
BioDelivery Sciences International
The Trade: BioDelivery Sciences International, Inc. BDSI Director Broadfin Healthcare Master Fund Ltd acquired a total of 257800 shares shares at an average price of $3.47. The insider spent $894,566.00 to buy those shares.
What’s Happening: The company recently reported mixed quarterly results.
What BioDelivery Sciences International Does: BioDelivery Sciences International Inc is a rapidly growing commercial-stage specialty pharmaceutical company dedicated to patients living with chronic pain.
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