Although US stocks closed lower 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: Autoliv, Inc. ALV 10% owner Cevian Capital II GP LTD acquired a total of 355,000 shares at an average price of $78.52. To acquire these shares, it cost around $27.87 million.
- What’s Happening: Autoliv, during July, reported second-quarter FY22 sales growth of 2.9% year-on-year, to $2.08 billion, beating the consensus of $2.05 billion..
- What Autoliv Does: Autoliv is the global leader in passive safety components and systems for the auto industry. Products include seat belts, frontal air bags, side-impact air bags, air bag inflators, and steering wheels.
- The Trade: Woodward, Inc. WWD Director David Hess acquired a total of 11,000 shares at an average price of $93.93. To acquire these shares, it cost around $1.03 million.
- What’s Happening: Woodward, last month, issued FY22 guidance below estimates and said Q3 profitability was impacted by labor and material inflation as well as global supply chain and labor disruption.
- What Woodward Does: Woodward Inc creates energy control and optimization solutions. The systems and solutions can help evaluate the performance, efficiencies, and emissions of its customers' products.
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South Plains Financial
- The Trade: South Plains Financial, Inc. SPFI Director Noe G Valles bought a total of 25,000 shares at an average price of $26.57. To acquire these shares, it cost around $664.25 thousand.
- What’s Happening: The company, during July, posted upbeat quarterly earnings.
- What South Plains Financial Does: South Plains Financial Inc operates as a bank holding company. The company provides a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals.
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