Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed mixed 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.
CION Investment
- The Trade: CION Investment Corporation (NYSE: CION) Co-Chairman & Co-CEO Mark Gatto acquired a total of 1,150 shares an average price of $11.02. To acquire these shares, it cost around $12,673.
- What’s Happening: On March 14, CION Invt posted downbeat quarterly earnings
- What CION Investment Does: CION Investment is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company.
- The Trade: Outlook Therapeutics, Inc. (NASDAQ: OTLK) Director Yezan Munther Haddadin acquired a total of 1,881 shares at an average price of $11.82. To acquire these shares, it cost around $22,242.
- What’s Happening: On March 27, BTIG upgraded the stock from Neutral to Buy and announced a $50 price target.
- What Outlook Therapeutics Does: Outlook Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing ONS-5010, a monoclonal antibody, or mAb, for various ophthalmic indications.
Rocket Companies
- The Trade: Rocket Companies, Inc. (NYSE: RKT) Director Matthew Rizik bought a total of 301 shares at an average price of $14.57. To acquire these shares, it cost around $4,386.
- What’s Happening: On March 18, B of A Securities analyst Mihir Bhatia maintained Rocket Companies with an Underperform and raised the price target from $7 to $8.
- What Rocket Companies Does: Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit.
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