Insiders Buying Blackstone, STAAR Surgical And 2 Other Stocks - Blackstone (NYSE:BX), Hyatt Hotels (NYSE:

Although U.S. 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.

STAAR Surgical

The Trade: STAAR Surgical Company (NASDAQ:STAA) Director Dr. Elizabeth Yeu acquired a total of 2,500 shares an average price of $40.00. To acquire these shares, it cost around $100,000.
What’s Happening: Stifel maintained Staar Surgical with a Hold and lowered the price target from $45 to $40.
What STAAR Surgical Does: Staar Surgical Co is a manufacturer of lenses. It designs, develops, manufactures, and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye.

Blackstone

The Trade: Blackstone Inc. (NYSE:BX) Director Reginald Brown acquired a total of 1,842 shares at an average price of $111.24. To acquire these shares, it cost around $204,904.
What’s Happening: Blackstone reported weaker-than-expected sales results for its second quarter.
What Blackstone Does: Blackstone is one of the world's largest alternative asset managers with $991.3 billion in total asset under management, including $732.0 billion in fee-earning asset under management, at the end of March 2023.

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Hyatt Hotels

The Trade: Hyatt Hotels Corporation (NYSE:H) Director Richard Tuttle bought a total of 1,250 shares at an average price of $104.49. To acquire these shares, it cost around $130,615.
What’s Happening: Stifel reiterated a Hold rating on Hyatt Hotels, lowering the price target to $115 from $119.
What Hyatt Hotels Does: Hyatt is an operator of owned (4% of total rooms) and managed and franchise (96%) properties across around 20 upscale luxury brands, which includes vacation brands (Apple Leisure Group, Hyatt Ziva and Hyatt Zilara), the recently launched full-service lifestyle brand Hyatt Centric, the soft lifestyle brand Unbound, and the wellness brand Miraval.

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Methode Electronics

The Trade: Methode Electronics, Inc. (NYSE:MEI) Director Walter J Aspatore bought a total of 1,000 shares at an average price of $22.50. The insider spent around $22,500 to buy those shares.
What’s Happening: Methode Electronics reported a first-quarter FY24 net sales growth of 2.6% year-on-year to $289.7 million, beating the consensus of $287.75 million.
What Methode Electronics Does: Methode Electronics Inc makes component and subsystem devices employing electrical, radio remote control, electronic, wireless, and sensing technologies.

MEIMethode Electronics Inc

$6.74-5.73%

STAAStaar Surgical Co

$26.70-0.52%

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