Although US stocks closed higher on Thursday, 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: VOXX International Corporation VOXX 10% owner Avalon Park Group Holding AG acquired a total of 15,534 shares at an average price of $8.58. To acquire these shares, it cost around $133.28 thousand.
- What’s Happening: VOXX International recently reported worse-than-expected Q1 sales results.
- What VOXX International Does: VOXX International Corp is a manufacturer and supplier of consumer electronic products in the automotive, premium audio, and accessory industries.
- The Trade: Lockheed Martin Corporation LMT Director John Donovan acquired a total of 632 shares at an average price of $396.16. To acquire these shares, it cost around $250.37 thousand.
- What’s Happening: Lockheed Martin recently reported a second-quarter FY22 net sales decline of 9.3% year-over-year to $15.45 billion, missing the consensus of $16.05 billion.
- What Lockheed Martin Does: Lockheed Martin is the largest defense contractor globally and has dominated the Western market for high-end fighter aircraft since the F-35 program was awarded in 2001.
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