Executives Buy Around $6M Of 3 Stocks

Although the Dow Jones tumbled 400 points on Friday, 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.

INDUS Realty Trust

• The Trade: INDUS Realty Trust, Inc. INDT 10% owner Jeffrey Aronson acquired a total of 47,756 shares at at an average price of $71.19. To acquire these shares, it cost around $3.4 million.
• What’s Happening: INDUS recently reported a new $150 million delayed draw term loan and amendment to existing revolving credit facility.
• What INDUS Realty Trust Does: INDUS Realty Trust Inc is a real estate company. The company is engaged in developing, managing and leasing industrial properties, and to a lesser extent, office/flex properties.

Greenhill

• The Trade: Greenhill & Co., Inc. GHL Chairman and CEO Scott L Bok acquired a total of 94,029 shares at an average price of $12.73. To acquire these shares, it cost around $1.2 million.
• What’s Happening: Greenhill & Co recently posted a Q1 loss of $0.66 per share.
• What Greenhill Does: Greenhill & Co Inc is an independent investment bank that provides financial and strategic advice on significant domestic and cross-border mergers and acquisitions, divestitures, restructurings, financings, capital raising and other transactions to a diverse client base, including corporations, partnerships, institutions and governments globally.

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Also check this: 4 Stocks Under $2 Insiders Are Aggressively Buying

First Internet Bancorp

• The Trade: First Internet Bancorp INBK Chairman and CEO David B Becker bought a total of 30,000 shares at an average price of $36.42. To acquire these shares, it cost around $1.09 million.
• What’s Happening: First Century Bancorp announced the termination of its merger agreement with First Internet Bancorp.
• What First Internet Bancorp Does: First Internet Bancorp is a bank holding company. Through its subsidiaries, it provides commercial real estate (CRE) lending, including nationwide single tenant lease financing and commercial and industrial (C&I) lending, including business banking/treasury management services.