When insiders buy shares, it indicates their confidence in the company’s prospects or that they see the shares as a bargain. Either way, this indicates an opportunity to go long on the stock. Insider trading should not be taken as the sole indicator in making an investment or trading decision. In the best of cases, it can give conviction to a purchase decision.
Below is a look at some recent notable insider purchases. For more information, see Benzinga’s internal transactions platform.
Trade: Sensient Technologies Corporation (NYSE: SXT) 10% Owner Winder Investment Pte Ltd, Haldor Foundation, Freemont Capital Pte Ltd acquired a total of 27377 shares at an average price of $ 91.16. The insider spent $ 2,495,698.96 to acquire those shares.
What’s going on: In July, the company reported optimistic quarterly results.
What Sensient Technologies does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors and flavor extracts.
Trade: The AES Corporation (NYSE: AES) Director Maura Shaughnessy acquired a total of 30,000 shares at an average price of $ 23.79. The acquisition of these shares cost $ 713,822.50.
What’s going on: AES recently reported the acquisition of a 49.9% stake in AES Colón.
What AES does: AES is a global electricity company with business in 14 countries. It has a portfolio of more than 100 power plants and wind and solar parks.
Trade: Gannett Co., Inc. (NYSE: GCI) Director Laurence Tarica bought a total of 26,000 shares at an average price of $ 6.42. Acquiring these shares cost $ 166,920.00.
What’s going on: Gannett recently announced the launch of USA TODAY Sports +, an entirely new premium digital subscription product.
What Gannett does: Gannett Co Inc is a digital newspaper company providing local media and marketing solutions in the US.
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