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.
- The Trade: Ecolab Inc. ECL 10% owner Cascade Investment LLC acquired a total of 58,667 shares at an average price of $171.37. To acquire these shares, it cost around $10.05 million.
- What’s Happening: Ecolab, last month, reported second-quarter FY22 sales growth of 13% year-on-year to $3.58 billion, beating the consensus of $3.51 billion.
- What Ecolab Does: Ecolab produces and markets cleaning and sanitation products for the hospitality, healthcare, and industrial markets.
- The Trade: Kymera Therapeutics, Inc. KYMR Director Mark Lampert acquired a total 545,525 shares at an average price of $26.00. To acquire these shares, it cost around $14.18 million.
- What’s Happening: Kymera recently announced a $150 million private placement equity financing.
- What Kymera Therapeutics Does: Kymera Therapeutics Inc is a biotechnology company pioneering a transformative new approach to treating previously untreatable diseases.
Don’t forget to check out our premarket coverage here .
Six Flags Entertainment
- The Trade: Six Flags Entertainment Corporation SIX Director Arik W Ruchim bought a total of 500,000 shares at an average price of $23.23. To acquire these shares, it cost around $11.61 million.
- What’s Happening: Six Flags recently reported Q2 EPS results were down year over year and reported worse-than-expected Q2 sales results.
- What Six Flags Entertainment Does: Six Flags Entertainment Corp owns and operates theme parks worldwide.
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