Although US stocks closed lower 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.
Westrock Coffee Company
- The Trade: Westrock Coffee Company, LLC (NASDAQ:WEST) Director Joe T Ford acquired a total of 45,500 shares at an average price of $10.97. To acquire these shares, it cost around $499.13 thousand.
- What’s Happening: Westrock Coffee Company recently announced closing of business combination with Riverview Acquisition Corp. and entry into a new credit agreement.
- What Westrock Coffee Does: Westrock Coffee Co is an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the U.S, providing coffee sourcing, supply chain management, product development, roasting, packaging, and distribution services to retail, foodservice and restaurant, convenience store and travel center, non-commercial account, CPG, and hospitality industries around the world.
Harley-Davidson
- The Trade: Harley-Davidson, Inc. (NYSE:HOG) President and CEO Jochen Zeitz acquired a total of 25,750 shares at an average price of $38.94. To acquire these shares, it cost around $1 million.
- What’s Happening: Harley-Davidson, during July, reported better-than-expected Q2 EPS and sales results.
- What Harley-Davidson Does: Harley-Davidson is a global leading manufacturer of heavyweight motorcycles, merchandise, parts, and accessories.
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Also check this: Starbucks To $94? Here Are 5 Other Price Target Changes For Wednesday
Booking Holdings
- The Trade: Booking Holdings Inc. (NASDAQ:BKNG) Director Robert J. Mylod Jr. bought a total of 1,000 shares at an average price of $1,803.65. To acquire these shares, it cost around $1,8 million.
- What’s Happening: Morgan Stanley recently maintained Booking Holdings with an Equal-Weight and raised the price target from $2100 to $2300.
- What Booking Holdings Does: Booking is the world's largest online travel agency by revenue, offering booking and payment services for hotel and alternative accommodation rooms, airline tickets, rental cars, restaurant reservations, cruises, experiences, and other vacation packages.
