Although the Dow Jones dropped more than 175 points 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.
Under Armour
- The Trade: Under Armour, Inc. (NYSE: UA) Director David W Gibbs acquired a total of 50,000 shares at at an average price of $9.50,. To acquire these shares, it cost around $474.82 thousand.
- What’s Happening: Under Armour recently announced CEO Patrik Frisk will step down..
- What Under Armour Does: Under Armour develops, markets, and distributes athletic apparel, footwear, and accessories in North America and other territories.
- The Trade: Global Business Travel Group, Inc. (NYSE: GBTG) 10% owner Apollo Principal Holdings III, L.P. acquired a total of 22,345,250 shares at an average price of $10.00. To acquire these shares, it cost around $20 million.
- What’s Happening: The company’s stock has dropped around 11% since the start of the year.
- What Global Business Travel Does: Global Business Travel Group, Inc., doing business as American Express (NYSE:AXP) Global Business Travel, provides B2B travel platform services.
Also check this: Executives Sell Over $100M Of 4 Stocks
American Assets Trust
- The Trade: American Assets Trust, Inc. (NYSE: AAT) Chairman and CEO Ernest Rady bought a total of 10,000 shares at an average price of $33.71. To acquire these shares, it cost around $337.1 thousand.
- What’s Happening: American Assets Trust, during April, posted Q1 FFO of $0.57 per share.
- What American Assets Trust Does: American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company invests in, operates, and develops retail, office, residential, and mixed-use properties.
Read at Benzinga