$10.2 Million Bet On This Technology Stock? 3 Stocks Insiders Are Buying

$10.2 Million Bet On This Technology Stock? 3 Stocks Insiders Are Buying

Although US stocks closed lower on Monday, 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.

Insight Enterprises

  • The Trade: Insight Enterprises, Inc. NSIT 10% owner ValueAct Holdings GP, LLC acquired a total of 109,465 shares at an average price of $93.49. To acquire these shares, it cost around $10.23 million.
  • What’s Happening: The company recently released Q2 results.
  • What Insight Enterprises Does: Insight Enterprises Inc is a Fortune 500 global IT provider primarily engaged in helping businesses of all sizes, large enterprises, governments, schools, and health care organizations.

CompoSecure

  • The Trade: CompoSecure, Inc. CMPO 10% owner Bleichroeder LP acquired a total of 500,000 shares at an average price of $5.50. To acquire these shares, it cost around $2.75 million.
  • What’s Happening: CompoSecure recently posted Q2 EPS of $0.52.
  • What CompoSecure Does: CompoSecure Inc is engaged in designing and manufacturing premium financial cards. Its products include Metal Cards and Arculus, a digital security platform.

Don’t forget to check out our premarket coverage here .

Also check this: Baidu, Avid Technology And Some Other Big Stocks Moving Higher In Today's Pre-Market Session

CommScope Holding Company

  • The Trade: CommScope Holding Company, Inc. COMM President and CEO Charles Treadway bought a total of 48,076 shares at an average price of $10.41. To acquire these shares, it cost around $500.43 thousand.
  • What’s Happening: CommScope recently reported second-quarter FY22 net sales growth of 5.3% year-on-year to $2.30 billion, beating the consensus of $2.26 billion.
  • What CommScope Does: CommScope Holding Co Inc provides infrastructure services for communications networks. It helps customers increase bandwidth, maximize existing capacity, improve network performance and availability, and simplify technology migration.

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