Although US stocks closed lower 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: Ark Restaurants Corp. ARKR 10% owner Thomas A. Satterfield Jr. acquired a total of 72,837 shares at an average price of $18.85. To acquire these shares, it cost around $1.37 million.
- What’s Happening: The company reported a sharp drop in Q2 earnings during May.
- What Ark Restaurants Does: Ark Restaurants, based in New York, owns and operates restaurants and bars in the United States.
- The Trade: RF Industries, Ltd. RFIL Director Mark Holdsworth acquired a total of 10,000 shares at an average price of $6.16. To acquire these shares, it cost around $61.58 thousand.
- What’s Happening: RF Industries, last month, reported better-than-expected results for its second quarter and raised its FY22 sales forecast.
- What RF Industries Does: RF Industries, incorporated in 1979, designs, manufactures, and markets interconnect products and systems.
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- The Trade: Lazydays Holdings, Inc. LAZY 10% owner Bryant Riley bought a total of 1,955 shares at an average price of $11.50. To acquire these shares, it cost around $22.48 thousand.
- What’s Happening: The company’s stock tumbled 37% over the past six months.
- What Lazydays Holdings Does: Lazydays Holdings, based in Tampa, Florida, operates recreation vehicle dealerships under the Lazydays name in the US.
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