$18.5M Bet On Southwest Gas? Check Out These 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.

Southwest Gas

  • The Trade: Southwest Gas Holdings, Inc. SWX 10% owner Icahn Partners Master Fund LP acquired a total of 307,530 shares an average price of $60.30. To acquire these shares, it cost around $18.54 million.
  • What’s Happening: Southwest Gas recently announced 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.

SL Green Realty

  • The Trade: SL Green Realty Corp. SLG Chief Financial Officer Matthew J Diliberto acquired a total of 10,000 shares at an average price of $16.44. To acquire these shares, it cost around $164.4 thousand. The company’s Chief Legal Officer & GC also bought the company’s shares.
  • What’s Happening: SL Green signed full floor lease with Palo Alto Networks at One Madison Avenue.
  • What SL Green Realty Does: SL Green is one of the largest Manhattan property owner and landlord, with interest in around 35 million square feet of wholly owned and joint venture office space.

Don’t forget to check out our premarket coverage here

Dollar Tree

  • The Trade: Dollar Tree, Inc. DLTR CFO Jeffrey Davis bought a total of 1,790 shares at an average price of $139.06. To acquire these shares, it cost around $248.92 thousand.
  • 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).

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