$140M Bet On Southwest Gas? Check Out These 4 Stocks Insiders Are Buying

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.

Southwest Gas

  • The Trade: Southwest Gas Holdings, Inc. SWX 10% owner Icahn Partners Master Fund LP acquired a total of 2,332,835 shares an average price of $60.12. To acquire these shares, it cost around $140.25 million
  • What’s Happening: Southwest Gas reported pricing of $207.7 million public offering of 3,576,180 shares of common stock at a price of $60.12 per share.
  • What Southwest Gas Does: Southwest Gas Holdings Inc is a utility company primarily engaged in the purchasing, distributing, and transporting of natural gas in the American Southwest.

Dollar Tree

  • The Trade: Dollar Tree, Inc. DLTR CEO Richard Dreiling acquired a total of 7,100 shares at an average price of $142.00. To acquire these shares, it cost around $1.01 million.
  • What’s Happening: Dollar Tree reported fourth-quarter FY22 sales growth of 9% year-on-year to $7.72 billion, beating the consensus of $7.60 billion.
  • What Dollar Tree Does: Dollar Tree operates discount stores in the U.S. and Canada, including 8,647 shops under its namesake banner and 8,016 Family Dollar units (as of the end of fiscal 2021).

Don’t forget to check out our premarket coverage here

Revolution Medicines

  • The Trade: Revolution Medicines, Inc. RVMD Director Thilo Schroeder bought a total of 650,000 shares at an average price of $21.76. To acquire these shares, it cost around $14.15 million.
  • What’s Happening: Revolution Medicines priced its underwritten public offering of 13,636,364 shares at $22.00 per share.
  • What Revolution Medicines Does: Revolution Medicines Inc is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit elusive, frontier targets within notorious growth and survival pathways, with particular emphasis on the RAS and mTOR signaling pathways.

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SM Energy

  • The Trade: SM Energy Company SM President and CEO Herbert Vogel bought a total 2,000 shares at an average price of $29.32. The insider spent around $58.63 thousand to buy those shares.
  • What’s Happening: SM Energy reported better-than-expected Q4 results.
  • What SM Energy Does: SM Energy Co is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids.
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