$7M Bet On This Financial Services Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mostly 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.

Goosehead Insurance

  • The Trade: Goosehead Insurance, Inc GSHD Director Thomas McConnon acquired a total of 153,537 shares an average price of $45.39. To acquire these shares, it cost around $6.97 million
  • What’s Happening: Goosehead Insurance reported better-than-expected Q4 sales.
  • What Goosehead Insurance Does: Goosehead Insurance Inc operates as an insurance agency. Its insurance products consist of homeowner's insurance; auto insurance; other personal lines products including flood, wind and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance (motorcycle, recreational vehicle and other insurance); commercial lines insurance (general liability, property, and auto insurance for small businesses); and life insurance.

Keurig Dr Pepper

  • The Trade: Keurig Dr Pepper Inc. KDP CFO Shekhar Sudhanshu Priyadarshi acquired a total of 20,000 shares at an average price of $35.59. To acquire these shares, it cost around $711.8 thousand.
  • What’s Happening: Keurig Dr Pepper reported fourth-quarter FY22 sales growth of 12.1% year-on-year, to $3.80 billion, beating the consensus of $3.78 billion.
  • What Keurig Dr Pepper Does: Keurig Dr Pepper was established in 2018 following a merger between Keurig Green Mountain Coffee and Dr Pepper Snapple.

Don’t forget to check out our premarket coverage here

OGE Energy

  • The Trade: OGE Energy Corp. OGE Director David Rainbolt bought a total of 5,000 shares at an average price of $36.65. To acquire these shares, it cost around $183.24 thousand.
  • What’s Happening: OGE Energy posted upbeat quarterly earnings.
  • What OGE Energy Does: OGE Energy is a holding company for Oklahoma Gas & Electric, a regulated utility offering electricity generation, transmission, and distribution to more than 800,000 customers in Oklahoma and western Arkansas.

Check This Out: Seagen, Delta Air Lines And 2 Other Stocks Insiders Are Selling

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