Although US markets recorded a sharp decline with the Dow Jones falling around 1% 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.
Stitch Fix
- The Trade: Stitch Fix, Inc. (NASDAQ:SFIX) 10% owner Chan Kenneth Hsiangtze acquired a total of 500000 shares at an average price of $16.39. To acquire these shares, it cost $8,194,305.00.
- What’s Happening: Stitch Fix recently said its Board of Directors had authorized a share repurchase program for up to $150 million of its Class A common stock.
- What Stitch Fix Does: Stitch Fix Inc offers personal style service for men and women. The company engages in delivering one-to-one personalization to clients through the combination of data science and human judgment. It provides a shipment service called A FIX where the stylist's hand selects items from several merchandises with analysis of client and merchandise data to provide a personalized shipment of apparel, shoes, and accessories suited to the client's needs.
Bed Bath & Beyond
- The Trade: Bed Bath & Beyond Inc. (NASDAQ:BBBY) EVP, Chief Operating Officer John Hartmann acquired a total of 6667 shares at an average price of $15.00. To acquire these shares, it cost $100,005.00.
- What’s Happening: Bed Bath & Beyond recently reported worse-than-expected Q3 sales and announced planned 2022 store closing.
- What Bed Bath & Beyond Does: Bed Bath & Beyond is a home furnishings retailer, operating just under 1,000 stores in all 50 states, Puerto Rico, Canada, and Mexico. Stores carry an assortment of branded bed and bath accessories, kitchen textiles, and cooking supplies.
Caleres
- The Trade: Caleres, Inc. (NYSE:CAL) SVP, Chief Accounting Officer Todd E Hasty bought a total of 3300 shares at an average price of $22.69. To acquire these shares, it cost $74,877.00.
- What’s Happening: Caleres recently raised its FY21 EPS guidance.
- What Caleres Does: Caleres Inc is a footwear retailer in the United States. The company is engaged in the operation of retail shoe stores and e-commerce websites, as well as the design, sourcing, and marketing of footwear for women and men.
