Over $3 Million Bet On G-III Apparel? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed sharply 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.

Blackstone

• The Trade: Blackstone Inc. BX Director Ruth Porat acquired a total of 20,000 shares an average price of $83.55. To acquire these shares, it cost around $1.67 million.
• What’s Happening: BMO Capital recently maintained Blackstone with a Market Perform and lowered the price target from $109 to $90.
• What Blackstone Does: Blackstone, headquartered in New York, is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies.

ModivCare

• The Trade: ModivCare Inc. MODV Director Adam Gray acquired a total of 90,743 shares at an average price of $76.09. To acquire these shares, it cost around $6.9 million.
• What’s Happening: The company, last month, posted mixed quarterly results.
• What ModivCare Does: ModivCare, incorporated in 1996, is a technology-enabled healthcare services company.

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Also check this: These Analysts Boost Price Targets On Lululemon Athletica Ahead Of Q3 Results

G-III Apparel Group

• The Trade: G-III Apparel Group, Ltd. GIII CEO Morris Goldfarb bought a total of 250,000 shares at an average price of $12.54. To acquire these shares, it cost around $3.13 million.
• What’s Happening: G-III Apparel recently reported worse-than-expected Q3 earnings results.
• What G-III Apparel Does: G-III Apparel Group, headquartered in New York, designs, sources, and markets women's and men's apparel in the United States and internationally.