Although U.S. stocks closed mixed 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.
FB Financial
- The Trade: FB Financial Corporation (NYSE:FBK) 10% owner James Ayers acquired a total of 2,000 shares an average price of $38.20. To acquire these shares, it cost around $76,400.
- What’s Happening: Hovde Group analyst Brett Rabatin recently downgraded FB Financial from Outperform to Market Perform and announced a $40 price target.
- What FB Financial Does: FB Financial Corp is a bank holding company. The company through its wholly-owned bank subsidiary provides commercial and consumer banking services to clients in select markets in Tennessee, North Alabama, and North Georgia.
AMREP
- The Trade: AMREP Corporation (NYSE:AXR) 10% owner Rainey Lancaster acquired a total of 1,800 shares at an average price of $21.82. To acquire these shares, it cost around $39,283.
- What’s Happening: Amrep, last month, reported a decline in quarterly sales.
- What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.
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