The Dow Jones closed slightly higher on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform.
CommScope Holding
- The Trade: CommScope Holding Company, Inc. (NASDAQ:COMM) SVP, Chief Legal Officer & Sec Justin Choi acquired a total of 28,600 shares an average price of $1.74. To acquire these shares, it cost around $49,750.
- What’s Happening: On Nov. 9, CommScope reported third-quarter net sales of $1.6 billion.
- What CommScope Holding Does: CommScope Holding Co Inc is a provider of infrastructure solutions for communication, data center and entertainment networks.
Reed’s
- The Trade: Reed’s, Inc. (OTC:REED) Director John Bello acquired a total of 5,000 shares at an average price of $2.04. To acquire these shares, it cost around $10,200.
- What’s Happening: On Nov. 9, Reed’s posted a narrower-than-expected quarterly loss.
- What Reed’s Does: Reed’s Inc sells Ginger Beer brand. The company’s portfolio of handcrafted, all-natural beverages is sold in over 45,000 outlets nationwide including the natural and specialty food channel, grocery stores, mass merchants, drug stores, convenience stores, club stores, and on-premise locations including bars and restaurants.
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Socket Mobile
- The Trade: Socket Mobile, Inc. (NASDAQ:SCKT) Director Charlie Bass acquired a total of 5,000 shares at an average price of $1.40. The insider spent around $6,999 to buy those shares.
- What’s Happening: On Oct. 27, Socket Mobile posted a wider-than-expected third-quarter loss.
- What Socket Mobile Does: Socket Mobile Inc is a producer of data capture products.
Beasley Broadcast Group
- The Trade: Beasley Broadcast Group, Inc. (NASDAQ:BBGI) CEO Caroline Beasley acquired a total of 2,825 shares at an average price of $0.71. The insider spent around $2,005 to buy those shares.
- What’s Happening: On Nov. 1, Beasley Broadcast Group posted downbeat quarterly results.
- What Beasley Broadcast Group Does: Beasley Broadcast Group Inc is a multi-platform media company, whose primary business is operating radio stations throughout the United States.
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