Although the Dow Jones closed higher by more than 600 points on Monday, 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: TransDigm Group Incorporated TDG Director Robert J Small acquired a total of 28,453 shares at at an average price of $565.00. To acquire these shares, it cost around $16.08 million.
- What’s Happening: The company recently posted upbeat quarterly results.
- What TransDigm Group Does: TransDigm manufactures and services a diverse set of components for commercial and military aircraft. The firm organizes itself in three segments: a power and control segment, an airframe segment, and a small nonaviation segment.
- The Trade: The Home Depot, Inc. HD Director Caryn Becker Seidman acquired a total of 1,500 shares at an average price of $287.73. To acquire these shares, it cost around $431.6 thousand.
- What’s Happening: The Home Depot recently reported better-than-expected Q1 results and raised fiscal 2022 guidance.
- What Home Depot Does: Home Depot is the world's largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the United States, Canada, and Mexico.
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- The Trade: AutoNation, Inc. AN COO Prec Parts & EVP Mobility Gianluca Camplone bought a total of 2,342 shares at an average price of $110.50. To acquire these shares, it cost around $258.79 thousand.
- What’s Happening: Morgan Stanley maintained AutoNation with an Equal-Weight and lowered the price target from $108 to $107.
- What AutoNation Does: AutoNation is the largest automotive dealer in the United States, with 2021 revenue of $25.8 billion and about 250 dealerships at nearly 350 locations, plus 57 collision centers.
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