Although US stocks closed lower on Tuesday, 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: SilverBow Resources, Inc. SBOW 10% owner Kimmeridge Energy Management Company LLC acquired a total of 578,378 shares at an average price of $29.37. To acquire these shares, it cost around $16.99 million.
- What’s Happening: The company’s stock dropped around 38% over the past month.
- What SilverBow Resources Does: SilverBow Resources Inc is an independent oil and gas company.
- The Trade: Stitch Fix, Inc. SFIX Director J. William Gurley acquired a total of 1,000,000 shares at an average price of $5.43. To acquire these shares, it cost around $5.43 million.
- What’s Happening: The company’s shares jumped around 10% in pre-market trading following the insider buying.
- What Stitch Fix Does: Stitch Fix Inc offers personal style service for men and women.
Don’t forget to check out our premarket coverage here .
Keurig Dr Pepper
- The Trade: Keurig Dr Pepper Inc. KDP Chief Supply Chain Officer Anthony Maurice Milikin bought a total of 12,979 shares at an average price of $36.17. To acquire these shares, it cost around $469.45 thousand.
- What’s Happening: Keurig Dr Pepper recently announced plans to acquire global rights to non-alcoholic brand Atypique.
- What Keurig Dr Pepper Does: Keurig Dr Pepper, the product of a 2018 merger between Dr Pepper Snapple and Keurig Green Mountain, is the third-largest nonalcoholic beverage company in North America.
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