Although US stocks closed sharply higher 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: United Airlines Holdings, Inc. UAL Director Edward Shapiro acquired a total of 50,000 shares at an average price of $35.74. To acquire these shares, it cost around $1.79 million.
- What’s Happening: United Airlines recently reported worse-than-expected Q2 sales results.
- What United Airlines Does: United Airlines is a major U.S. network carrier. United's hubs include San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C.
- The Trade: Heritage-Crystal Clean, Inc HCCI President and CEO Brian Recatto acquired a total of 150,000 shares at an average price of $27.00. To acquire these shares, it cost around $4.05 million.
- What’s Happening: The company posted upbeat quarterly results.
- What Heritage-Crystal Clean Does: Heritage-Crystal Clean Inc provides parts cleaning, used oil re-refining, and hazardous and non-hazardous waste services to small and mid-sized customers in both the manufacturing and vehicle service sectors.
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- The Trade: IonQ, Inc. IONQ Chief Technology Officer Jungsang Kim bought a total of 5,000 shares at an average price of $5.50. To acquire these shares, it cost around $27.5 thousand.
- What’s Happening: IonQ recently announced expansion with First European and Israeli entities.
- What IonQ Does: IonQ Inc is a leader in quantum computing, with a track record of innovation and deployment. IonQ's next-generation quantum computer is the most powerful trapped-ion quantum computer.
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