Although US stocks closed mostly 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.
Global Water Resources
- The Trade: Global Water Resources, Inc. GWRS Director Andrew Cohn acquired a total of 111,000 shares at an average price of $13.50. To acquire these shares, it cost around $1.5 million.
- What’s Happening: Global Water recently priced offering of 1 million shares at $13.50/share.
- What Global Water Resources Does: Global Water Resources Inc operates as a water resource management company that owns, operates, and manages water, wastewater, and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona.
- The Trade: MKS Instruments, Inc. MKSI Director Gerard Colella acquired a total 1,000 shares at an average price of $117.51. To acquire these shares, it cost around $117.51 thousand.
- What’s Happening: The company recently posted upbeat quarterly earnings.
- What MKS Instruments Does: MKS Instruments Inc is engaged in providing instruments, subsystems, and process control systems used to measure, monitor, deliver, and control parameters of manufacturing processes.
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W. R. Berkley
- The Trade: W. R. Berkley Corporation WRB Director Mark E. Brockbank bought a total of 6,000 shares at an average price of $61.96. To acquire these shares, it cost around $371.78 thousand.
- What’s Happening: The company recently posted upbeat Q2 earnings.
- What W. R. Berkley Does: W.R. Berkley is an insurance holding company with a host of subsidiaries that primarily write commercial casualty insurance.
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 $38.93. The insider spent around $505.27 thousand to buy those shares.
- What’s Happening: Keurig Dr Pepper recently reported better-than-expected Q2 sales.
- 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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