Although U.S. stocks closed lower 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.
Tilly’s
- The Trade: Tilly’s, Inc. (NYSE:TLYS) Pleasant Lake Partners LLC acquired a total of 27,000 shares an average price of $7.43. To acquire these shares, it cost around $200,691.
- What’s Happening: Tilly’s, during November, posted downbeat quarterly sales.
- What Tilly’s Does: Tilly’s Inc works as a specialty retailer of casual apparel, footwear, and accessories for young men, young women, boys, and girls.
Steel Connect
- The Trade: Steel Connect, Inc. (NASDAQ:STCN) 10% owner WF Asset Corp. acquired a total of 340 shares at an average price of $9.52. To acquire these shares, it cost around $3,237.
- What’s Happening: Steel Connect, last month, reported a decline in quarterly sales.
- What Steel Connect Does: Steel Connect Inc is a diversified holding company. The company’s operating segment include Direct Marketing and Supply Chain.
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Mid Penn Bancorp
- The Trade: Mid Penn Bancorp, Inc. (NASDAQ:MPB) Director Albert J Evans bought a total of 411 shares at an average price of $24.28. To acquire these shares, it cost around $9,979.
- What’s Happening: Keefe, Bruyette & Woods analyst Tim Switzer, last month, initiated coverage on Mid Penn Bancorp with an Outperform rating and announced a price target of $26.
- What Mid Penn Bancorp Does: Mid Penn Bancorp Inc operates in the financial services domain. It conducts commercial banking and trust business in the United States.
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