Around $8.5M Bet On Eagle Bulk Shipping? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed mostly higher on Thursday, 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.

Eagle Bulk Shipping

• The Trade: Eagle Bulk Shipping Inc. EGLE 10% owner Danaos Corp acquired a total of 181,422 shares an average price of $47.28. To acquire these shares, it cost around $8.58 million.
• What’s Happening: Eagle Bulk Shipping purchased Oaktree Capital stake in company for $58 per share.
• What Eagle Bulk Shipping Does: Eagle Bulk Shipping Inc is a U.S.-based, fully integrated shipowner-operator, providing global transportation solutions to miners, producers, traders and end users.

Howard Hughes

• The Trade: The Howard Hughes Corporation HHC Director William Ackman acquired a total of 62,498 shares at an average price of $74.80. To acquire these shares, it cost around $4.67 million.
• What’s Happening: Howard Hughes posted a narrower-than-expected quarterly loss.
• What Howard Hughes Does: The Howard Hughes Corp is a real estate company that develops master-planned communities (MPCs) and is involved in other strategic real estate development opportunities across the United States.

Don’t forget to check out our premarket coverage here

Asana

• The Trade: Asana, Inc. ASAN Director, President, CEO, & Chair Dustin Moskovitz bought a total of 240,000 shares at an average price of 23.16. To acquire these shares, it cost around $5.56 million. The company’s Director, however, sold 9,933 shares.
• What’s Happening: Asana reported better-than-expected first-quarter financial results and issued FY24 EPS guidance above estimates.
• What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.

Check This Out: Investor Sentiment Improves After Nasdaq Snaps 3-Session Losing Streak

Vera Therapeutics

• The Trade: Vera Therapeutics, Inc. VERA 10% owner Commodore Capital LP bought a total 448,217 shares at an average price of $15.17. The insider spent around $6.8 million to buy those shares.
• What’s Happening: Vera Therapeutics said atacicept for IgA nephropathy met its primary and key secondary endpoints.
• What Vera Therapeutics Does: Vera Therapeutics Inc is a clinical stage biotechnology company. It is focused on developing and commercializing transformative treatments for patients with serious immunological diseases.