Around $1.2 Million Bet On This Financial Services Stock? 4 Stocks Insiders Are Buying

Although US stocks traded higher on Friday, 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.

Texas Capital Bancshares

• The Trade: Texas Capital Bancshares, Inc. TCBI Director Robert Stallings acquired a total of 23,100 shares at an average price of $53.54. To acquire these shares, it cost around $1.24 million.
• What’s Happening: The company recently posted downbeat quarterly earnings.
• What Texas Capital Bancshares Does: Texas Capital Bancshares Inc is a secured lender, with the majority of the loans held for investment, excluding mortgage finance loans and other national lines of business.

SMART Global Holdings

• The Trade: SMART Global Holdings, Inc. SGH President and CEO Mark Adams acquired a total of 10,000 shares at an average price of $18.10. To acquire these shares, it cost around $180.98 thousand.
• What’s Happening: SMART Global recently issued worse-than-expected Q3 EPS and sales guidance below estimates.
• What SMART Global Holdings Does: SMART Global Holdings Inc is a designer and manufacturer of electronic products focused on memory and computing technology areas.

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Also check this: Nasdaq Surges 150 Points As Apple Posts Upbeat Results

Noodles & Company

• The Trade: Noodles & Company NDLS Director Thomas Lynch bought a total of 113,371 shares at an average price of $4.51. To acquire these shares, it cost around $511.46 thousand.
• What’s Happening: The company recently posted mixed quarterly results.
• What Noodles & Company Does: Noodles & Co is a restaurant concept offering lunch and dinner within the fast-casual segment of the restaurant industry.

Huntington Bancshares

• The Trade: Huntington Bancshares Incorporated HBAN Director Gary Torgow bought a total of 19,382 shares at an average price of $12.90. The insider spent around $249.98 thousand to buy those shares.
• What’s Happening: The company recently reported upbeat quarterly earnings.
• What Huntington Bancshares Does: Huntington Bancshares is a regional bank holding company headquartered in Columbus, Ohio. The bank has a network of branches and ATMs across eight Midwestern states.