Over $4M Bet On ProFrac Holding? Check Out These 3 Stocks Insiders Are Buying

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Although U.S. stocks closed mixed 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.

ProFrac Holding

  • The Trade: ProFrac Holding Corp. ACDC 10% owner Dan H. Wilks acquired a total of 460,000 shares at an average price of $9.41. To acquire these shares, it cost around $4.33 million.
  • What's Happening: ProFrac Holding said Lance Turner will resign as CFO effective June 17.
  • What ProFrac Holding Does: ProFrac Holding Corp is engaged in providing hydraulic fracturing, completion services, and other complementary products and services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.

Global Partners

  • The Trade: Global Partners LP GLP Global GP LLC acquired a total of 30,000 shares at an average price of $44.72. To acquire these shares, it cost around $1.34 million.
  • What's Happening: On May 8, Global Partners posted downbeat quarterly results.
  • What Global Partners Does: Global Partners LP is an U.S.-based limited partnership that acts as a midstream logistics and marketing company.

Don’t forget to check out our premarket coverage here

GeneDx Holdings

  • The Trade: GeneDx Holdings Corp. WGS 10% owner Casdin Partners FO1-MSV, LP bought a total of 170,000 shares at an average price of $20.15. To acquire these shares, it cost around $3.42 million.
  • What's Happening: On April 30, GeneDx reported better-than-expected first-quarter financial results.
  • What GeneDx Holdings Does: GeneDx Holdings Corp delivers personalized and actionable health insights to inform diagnosis, direct treatment and improve drug discovery.

Read More: Advance Auto Parts, Ooma And 3 Stocks To Watch Heading Into Wednesday

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