Although US stocks closed lower on Friday, 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: JELD-WEN Holding, Inc. JELD 10% owner Turtle Creek Asset Management Inc acquired a total of 240,150 shares an average price of $9.42. To acquire these shares, it cost around $2.26 million.
- What’s Happening: JELD-WEN, during August, announced strategic review of its Australasia business.
- What JELD-WEN Does: JELD-WEN Holding Inc is engaged in door and window manufacturing.
- The Trade: Rocket Companies, Inc. RKT CEO Jay Farner acquired a total of 58,800 shares at an average price of $6.78. To acquire these shares, it cost around $398.79 thousand.
- What’s Happening: Fintech platform company Rocket Companies recently announced two major leadership changes, including the retirement of CFO Julie Booth.
- What Rocket Companies Does: Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit.
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- The Trade: Hooker Furnishings Corporation HOFT Director Maria C Duey bought a total of 1,500 shares at an average price of $13.57. To acquire these shares, it cost around $20.35 thousand.
- What’s Happening: Hooker Furnishings, last month, reported a second-quarter FY23 sales decline of 5.9% year-on-year to $152.91 million
- What Hooker Furnishings Does: Hooker Furnishings Corp formerly Hooker Furniture Corp is a designer, marketer, and importer of case goods, leather furniture, and fabric-upholstered furniture for the residential, hospitality, and contract markets.
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