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.
Children's Place
- The Trade: The Children's Place, Inc. (NASDAQ: PLCE) Director John Bachman acquired a total of 1,500 shares at an average price of $38.50. To acquire these shares, it cost around $57.75 thousand.
- What’s Happening: The company, last month, posted downbeat Q1 results.
- What Children's Place Does: Children's Place Inc is a specialty retailer that sells accessories, footwear, and other items for children. The company has over a thousand stores in North America and also sells through its website and wholesale.
- The Trade: Sound Financial Bancorp, Inc. (NASDAQ: SFBC) 10% owner Stilwell Partners LP acquired a total of 23,536 shares at an average price of $36.03. To acquire these shares, it cost around $847.95 thousand.
- What’s Happening: The company’s stock has lost around 18% since the start of the year.
- What Sound Financial Bancorp Does: Sound Financial Bancorp Inc operates as the holding company for Sound Community Bank that provides traditional banking and other financial services for individuals and businesses.
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Also check this: US GDP And Other Macro Issues For Wednesday
SecureWorks
- The Trade: SecureWorks Corp. (NASDAQ: SCWX) 10% owner Neil Gagnon bought a total of 43,274 shares at an average price of $11.18. To acquire these shares, it cost around $483.61 thousand.
- What’s Happening: The company recently posted upbeat quarterly results.
- What SecureWorks Does: SecureWorks Corp is a provider of intelligence-driven information security solutions exclusively focused on protecting its clients from cyber-attacks. Its solutions enable organizations to fortify their cyber defenses to prevent security breaches.
Read at Benzinga