Crude oil prices traded higher on Wednesday after gaining close to 3% in the prior session, as the API reported that US crude stockpiles dropped by 875,000 barrels last week.
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.
Superior Industries International
- The Trade: Superior Industries International, Inc. (NYSE:SUP) 10% owner Thomas Lynch acquired a total of 125,636 shares at an average price of $8.25. To acquire these shares, it cost around $1.04 million.
- What’s Happening: The company’s stock dropped 6% over the previous month.
- What Superior Industries Does: Superior Industries International Inc is a manufacturer of aluminum wheels for passenger automobiles and light-duty vehicles.
Kodiak Sciences
- The Trade: Kodiak Sciences Inc. (NASDAQ:KOD) Director Felix Baker acquired a total of 501,111 shares at an average price of $57.49. To acquire these shares, it cost $28.81 million.
- What’s Happening: Morgan Stanley recently maintained Kodiak Sciences with an Equal-Weight and raised the price target from $119 to $122.
- What Kodiak Sciences Does: Kodiak Sciences Inc is a clinical-stage company. It is engaged in developing innovative therapeutics to treat the high prevalence of ophthalmic diseases.
Check out these penny stocks insiders are buying
EverQuote
- The Trade: EverQuote, Inc. (NASDAQ:EVER) Director David Blundin bought a total of 55,239 shares at an average price of $14.70. To acquire these shares, it cost $812.08 thousand.
- What’s Happening: The company’s shares tumbled around 50% over the previous six months.
- What EverQuote Does: EverQuote Inc is a US-based company engaged in the business activity of offering an online marketplace for insurance shopping.
