Over $2M Bet On Grocery Outlet? Check Out These 4 Stocks Insiders Are Buying

Author: Avi Kapoor | May 14, 2024 07:05am

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

Grocery Outlet

• The Trade: Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz acquired a total of 100,000 shares at an average price of $20.91. To acquire these shares, it cost around $2.09 million.
• What's Happening: On May 7, Grocery Outlet reported worse-than-expected first-quarter adjusted EPS results.
• What Grocery Outlet Does: Grocery Outlet Holding Corp is a grocery store operator in the United States.

Ascent Industries

• The Trade: Ascent Industries Co. (NASDAQ:ACNT) CEO John Bryan Kitchen acquired a total of 7,946 shares at an average price of $10.00. To acquire these shares, it cost around $79,460.
• What's Happening: On May 8, Ascent Industries posted a narrower loss for the first quarter.
• What Ascent Industries Does: Ascent Industries Co is engaged in the chemical and metal industry.

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Vestis

• The Trade: Vestis Corporation (NYSE:VSTS) Director Williams Ena Koschel bought a total of 8,500 shares at an average price of $12.27. To acquire these shares, it cost around $104,287.
• 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.

United Security Bancshares

• The Trade: United Security Bancshares (NASDAQ:UBFO) Director Jagroop Gill bought a total of 8,080 shares at an average price of $7.25. The insider spent around $58,580 to buy those shares.
• What's Happening: On April 18, United Security posted a decline in first-quarter EPS.
• What United Security Bancshares Does: United Security Bancshares operates as the holding for United Security Bank.

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Posted In: ACNT GO UBFO VSTS