Although US stocks closed mixed on Wednesday, 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.
Dollar General
- The Trade: Dollar General Corporation (NYSE:DG) CEO Jeffery Owen acquired a total of 1,500 shares an average price of $157.86. To acquire these shares, it cost around $236.79 thousand.
- What’s Happening: Dollar General company reported worse-than-expected first-quarter results and cut its FY23 sales growth outlook.
- What Dollar General Does: A leading American discount retailer, Dollar General operates over 19,000 stores in 47 states, selling branded and private-label products across a wide variety of categories.
Babcock & Wilcox Enterprises
- The Trade: Babcock & Wilcox Enterprises, Inc. (NYSE:BW) 10% owner Bryant Riley acquired a total of 40,000 shares at an average price of $5.51. To acquire these shares, it cost around $220.56 thousand.
- What’s Happening: Babcock & Wilcox posted a wider-than-expected quarterly loss.
- What Babcock & Wilcox Enterprises Does: Babcock & Wilcox Enterprises is a power generation equipment supplier and servicing company that operates in three segments: B&W Renewable, B&W Environmental, and B&W Thermal.
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Universal Electronics
- The Trade: Universal Electronics Inc. (NASDAQ:UEIC) Director Romulo Pontual bought a total of 1,190 shares at an average price of $8.40. To acquire these shares, it cost around $10 thousand.
- What’s Happening: Universal Electronics posted better-than-expected quarterly results.
- What Universal Electronics Does: Universal Electronics Inc is a United States-based company that is principally engaged in developing and manufacturing a series of electronic products, including wireless control products, audio-video accessories, intelligent wireless automation components, and software.
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