Over $34M Bet On This Industrial Stock? Check Out These 4 Stocks Insiders Are Buying

Author: Avi Kapoor | May 09, 2024 08:45am

Although U.S. stocks closed mixed on Wednesday, 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.

American Homes 4 Rent

The Trade: American Homes 4 Rent (NYSE:AMH) Director Jack E Corrigan acquired a total of 10,000 shares at an average price of $22.72. To acquire these shares, it cost around $227,776.
What's Happening: On May 2, American Homes 4 Rent posted better-than-expected quarterly sales.
What American Homes 4 Rent Does: American Homes 4 Rent is a real estate investment trust primarily focused on acquiring, operating, and leasing single-family homes as rental properties throughout the United States.

Regional Management

The Trade: Regional Management Corp. (NYSE:RM) 10% owner Basswood Financial Long Only Fund, L.P. acquired a total of 72,546 shares at an average price of $30.16. To acquire these shares, it cost around $2.19 million.
What's Happening: On May 1, Regional Management reported better-than-expected first-quarter financial results.
What Regional Management Does: Regional Management Corp is a diversified consumer finance company that provides installment loan products to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders.

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Vestis

The Trade: Vestis Corporation (NYSE:VSTS) 10% owner Keith A. Meister bought a total of 3,446,655 shares at an average price of $9.96. To acquire these shares, it cost around $34.32 million.
What's Happening: On May 7, Redburn Atlantic analyst Oliver Davies downgraded Vestis from Buy to Neutral.
What Vestis Does: Vestis Corp is a provider of uniform rentals and workplace supplies across the United States and Canada.

TriMas

The Trade: TriMas Corporation (NASDAQ:TRS) Director Herbert K Parker bought a total of 18,100 shares at an average price of $26.27. The insider spent around $475,446 to buy those shares.
What's Happening: On April 30, TriMas reported better-than-expected first-quarter financial results.
What TriMas Does: TriMas Corp is a United States-based company that designs, manufactures, and distributes engineered and applied products.

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Posted In: AMH RM TRS VSTS