The Dow Jones closed lower by around 50 points on Tuesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

P3 Health Partners

• The Trade: P3 Health Partners Inc. (NASDAQ:PIII) 10% owner CPF III-A PT SPV, LLC acquired a total 245,862 shares an average price of $3.89. To acquire these shares, it cost around $957.55 thousand.
• What’s Happening: P3 Health Partners posted better-than-expected first-quarter results.
• What P3 Health Partners Does: P3 Health Partners Inc is a patient-centered and physician-led population health management company.

Cronos Group

• The Trade: Cronos Group Inc. (NASDAQ:CRON) Director Jason M. Adler acquired a total of 100,000 shares at an average price of $1.80. The insider spent around $179.65 thousand to buy those shares.
• What’s Happening: Barclays recently maintained Cronos Group with an Equal-Weight and lowered the price target from $3.5 to $3.
• What Cronos Group Does: Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach.

Rayonier Advanced Materials

• The Trade: Rayonier Advanced Materials Inc. (NYSE:RYAM) SVP, High Purity Cellulose Joshua Hicks acquired a total of 20,000 shares at an average price of $3.81. To acquire these shares, it cost around $76.1 thousand.
• What’s Happening: Rayonier Advanced Materials reported worse-than-expected first-quarter adjusted EPS results.
• What Rayonier Advanced Materials Does: Rayonier Advanced Materials Inc manufactures high-purity cellulose derived from wood.

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