Benzinga - Although US stocks closed higher on Thursday, 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.
Southwest Gas Holdings
- The Trade: Southwest Gas Holdings, Inc. (NYSE: SWX) 10% owner Icahn Partners Master Fund LP acquired a total of 525,064 shares an average price of $60.24. To acquire these shares, it cost around $31.63 million.
- What’s Happening: Southwest Gas recently announces pricing of $207.7 million public offering of 3,576,180 shares of common stock at a price of $60.12 per share.
- What Southwest Gas Does: Southwest Gas Holdings Inc is a utility company primarily engaged in the purchasing, distributing, and transporting of natural gas in the American Southwest.
- The Trade: Air Transport Services Group, Inc. (NASDAQ: ATSG) Director Joseph C Hete acquired a total of 1,000 shares at an average price of $19.97. To acquire these shares, it cost around $19.97 thousand.
- What’s Happening: Air Transport Services posted upbeat quarterly sales.
- What Air Transport Services Does: Air Transport Services Group Inc along with its subsidiaries operates within the airfreight and logistics industry.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Vitesse Energy
- The Trade: Vitesse Energy, Inc. (NYSE: VTS) CEO Robert Gerrity bought a total of 5,000 shares at an average price of $16.85. To acquire these shares, it cost around $84.25 thousand.
- What’s Happening: Jefferies initiated coverage on Vitesse Energy with a Buy rating and announced a price target of $23.
- What Vitesse Energy Does: Vitesse Energy Inc is an independent energy company engaged in the acquisition, development, and production of non-operated oil and natural gas properties in the United States that are generally operated by oil companies and are in the Bakken and Three Forks formations in the Williston Basin of North Dakota and Montana.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.