More Than $30M Bet On This Stock? Check Out These 3 Stocks Insiders Are Buying
Author: Avi Kapoor | August 16, 2024 09:21am
Although U.S. stocks closed 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.
Kratos Defense & Security
- The Trade: Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) President and CEO Eric M Demarco acquired a total of 12,396 shares at an average price of $20.19. To acquire these shares, it cost around $250,254.
- What's Happening: On Aug. 7, Kratos Defense & Security posted upbeat quarterly results.
- What Kratos Defense & Security Does: Kratos Defense & Security Solutions Inc develops and fields transformative, affordable technology, platforms, and systems.
Comstock Resources
- The Trade: Comstock Resources, Inc. (NYSE:CRK) 10% owner Jerral W. Jones acquired a total of 2,945,694 shares at an average price of $10.43. To acquire these shares, it cost around $30.7 million.
- What's Happening: On Aug. 15, Piper Sandler analyst Mark Lear downgraded Comstock Resources from Neutral to Underweight and lowered the price target from $8 to $5..
- What Comstock Resources Does: Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets.
nVent Electric
- The Trade: nVent Electric plc (NYSE:NVT) Director Herbert K Parker bought a total of 7,566 shares at an average price of $65.71. To acquire these shares, it cost around $497,198.
- What's Happening: On Aug. 6, NVent Electric reported worse-than-expected second-quarter sales results.
- What nVent Electric Does: nVent Electric PLC is a provider of electrical connection and protection solutions. The company segments include Enclosures, Thermal Management, and Electrical and Fastening Solutions.
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Posted In: CRK KTOS NVT
