Although the Nasdaq Composite gained 1.5% 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: Insight Enterprises, Inc. NSIT Director Valueact Holdings GP Llc acquired a total of 160,000 shares at at an average price of $95.30. To acquire these shares, it cost around $15.25 million.
- What’s Happening: The company recently posted upbeat quarterly results.
- What Insight Enterprises Does: Insight Enterprises Inc is a Fortune 500 global IT provider primarily engaged in helping businesses of all sizes, large enterprises, governments, schools, and health care organizations.
- The Trade: Groupon, Inc. GRPN 10% owner Pale Fire Capital Se acquired a total of 458,794 shares at an average price of $11.55. To acquire these shares, it cost around $5.3 million.
- What’s Happening: Groupon recently reported worse-than-expected Q1 EPS and sales results and issued FY22 sales guidance below analyst estimates.
- What Groupon Does: Groupon acts as the middleman between consumers and merchants, offering a variety of products and services at discounts via its online store.
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- The Trade: Newmark Group, Inc. NMRK 10% owner John Palmer bought a total of 99,889 shares at an average price of $25.31. To acquire these shares, it cost around $2.53 million.
- What’s Happening: Newmark Group recently reported the purchase of Open Realty Advisors, Properties.
- What Newmark Group Does: Newmark Group Inc is a commercial real estate advisory firm. It offers services, including leasing and corporate advisory services, investment sales, commercial mortgage brokerage, appraisal and valuation, project management, and property, among others.
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