Around $134 Million Bet On This Stock Up 46% Year-To-Date? 3 Stocks Insiders Are Buying

Although US stocks closed 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.

DaVita

• The Trade: DaVita Inc. DVA Director John Nehra acquired a total of 5,000 shares an average price of $71.14. To acquire these shares, it cost around $355.68 thousand.
• What’s Happening: DaVita recently reported worse-than-expected Q3 results and lowered FY22 adjusted EPS guidance below estimates.
• What DaVita Does: DaVita is the largest provider of dialysis services in the United States, boasting market share that eclipses 35% when measured by both patients and clinics.

The Bancorp

• The Trade: The Bancorp, Inc. TBBK Director Matthew Cohn acquired a total of 20,910 shares at an average price of $28.00. To acquire these shares, it cost around $585.38 thousand.
• What’s Happening: The company recently posted downbeat quarterly earnings.
• What The Bancorp Does: The Bancorp Inc is a financial holding company, through its subsidiary it is engaged in specialty lending namely securities backed lines of credit, vehicle fleet and another equipment leasing, Small Business Administration lending, and commercial mortgage-backed loans, generated for sale into commercial mortgage-backed securities markets through securitizations.

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Sprague Resources

• The Trade: Sprague Resources LP SRLP 10% owner Hartree Partners GP LLC bought a total of 6,689,383 shares at an average price of $20.00. To acquire these shares, it cost around $133.79 million.
• What’s Happening: Sprague Resources announced closing of merger with Hartree Affiliate and delisting of its common units.
• What Sprague Resources Does: Sprague Resources LP engaged in the purchase, storage, distribution and sale of refined products and natural gas, and to provide storage and handling services for a broad range of materials.