Although US stocks closed sharply 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.
Chesapeake Energy
- The Trade: Chesapeake Energy Corporation (NYSE:CHK) President and CEO Domenic Dellosso Jr acquired a total of 3,000 shares at an average price of $82.04. To acquire these shares, it cost around $246.13 thousand.
- What’s Happening: Chesapeake Energy recently doubled its buyback program authorization from $1 billion to $2 billion.
- What Chesapeake Energy Does: Chesapeake Energy Corp is a US-based exploration and production company.
Alta Equipment Group
- The Trade: Alta Equipment Group Inc. (NYSE:ALTG) 10% owner Bryant Riley acquired a total of 35,852 shares at an average price of $9.50. To acquire these shares, it cost around $340.51 thousand.
- What’s Happening: The company, last month, posted upbeat quarterly results.
- What Alta Equipment Group Does: Alta Equipment Group Inc is an integrated equipment dealership platform in the U.S. Its segments are Material Handling and Construction Equipment.
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Also check this: US GDP And Other Macro Issues For Wednesday
PFSweb
- The Trade: PFSweb, Inc. (NASDAQ:PFSW) 10% owner Eli Samaha bought a total of 23,448 shares at an average price of $11.72. To acquire these shares, it cost around $274.81 thousand.
- What’s Happening: The company recently swung to a loss in the first quarter.
- What PFSweb Does: PFSweb Inc is a commerce services company. The company operating segments includes PFS Operations.
