Although the Dow Jones surged sharply by over 400 points 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.
Insight Enterprises
- The Trade: Insight Enterprises, Inc (NASDAQ:NSIT) 10% owner Valueact Holdings GP LLC acquired a total of 97,200 shares at at an average price of $99.48. To acquire these shares, it cost around $9.67 million.
- What’s Happening: The company recently posted upbeat quarterly results.
- What Insight Enterprises Does: Insight Enterprises Inc is a Fortune 500 global IT provider primarily engaged in helping businesses of all sizes, large enterprises, governments, schools, and health care organizations.
Six Flags Entertainment
- The Trade: Six Flags Entertainment Corporation (NYSE:SIX) 10% owner H Partners Management LLC acquired a total of 425,000 shares at an average price of $28.86. To acquire these shares, it cost around $12.26 million.
- What’s Happening: Six Flags Entertainment recently reported first-quarter FY22 sales growth of 68% Y/Y to $138 million, beating the consensus of $122.26 million.
- What Six Flags Entertainment Does: Six Flags Entertainment Corp owns and operates theme parks worldwide. The company operates around 26 theme parks and waterparks, 23 are located in the United States, two are located in Mexico and one is located in Montreal, Canada.
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