Over $29 Million Bet On Energy Transfer? 3 Stocks Insiders Are Buying

Over $29 Million Bet On Energy Transfer? 3 Stocks Insiders Are Buying

Although US stocks closed higher 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.

Energy Transfer

  • The Trade: Energy Transfer LP ET Executive Chairman Kelcy Warren acquired a total of 2,428,747 shares at an average price of $12.04. To acquire these shares, it cost around $29.24 million.
  • What’s Happening: The company, last month, posted upbeat quarterly results.
  • What Energy Transfer Does: Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region.

Stanley Black & Decker

  • The Trade: Stanley Black & Decker, Inc. SWK Director Robert Manning acquired a total of 30,000 shares at an average price of $85.50. To acquire these shares, it cost around $2.56 million.
  • What’s Happening: Deutsche Bank, last month, downgraded Stanley Black & Decker from Buy to Hold and lowered the price target from $126 to $111.
  • What Stanley Black & Decker Does: Stanley Black & Decker Inc is a manufacturer of hand and power tools.

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

Also check this: Dow To $45? Here Are 5 Other Price Target Changes For Tuesday

Medpace Holdings

  • The Trade: Medpace Holdings, Inc. MEDP CEO August J Troendle bought a total of 113,114 shares at an average price of $160.99. To acquire these shares, it cost around $18.21 million.
  • What’s Happening: The company, late July, posted upbeat quarterly results.
  • What Medpace Holdings Does: Medpace Holdings Inc is a clinical contract research organization. It is engaged in scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries.

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