The Dow Jones index closed higher by around 0.2% on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

AmBase

• The Trade: AmBase Corporation (OTC:ABCP) 10% owner Barc Investments LLC bought a total of 909,691 shares at an average price of $0.21. To acquire these shares, it cost around $191,035.
• What's Happening: On March 18, AmBase posted a net loss of $5,271,000 for the twelve months ended Dec. 31, 2023.
• What AmBase Does: Ambase Corp is a United States-based holding company. It holds an equity interest in a real estate development property through a joint venture agreement to purchase and develop the real property located in New York, New York.

Expensify

• The Trade: Expensify, Inc. (NASDAQ:EXFY) 10% owner SF Roofdeck GP LLC acquired a total of 530,471 shares at at an average price of $1.57. To acquire these shares, it cost around $832,015.
• What's Happening: Expensify is expected to announce first-quarter financial results after market close on Thursday, May 9.
• What Expensify Does: Expensify Inc is a cloud-based expense management software platform that helps various businesses simplify the way to manage money.

Riverview Bancorp

• The Trade: Riverview Bancorp, Inc. (NASDAQ:RVSB) Director Patricia Eby acquired a total of 7,000 shares at an average price of $3.75. The insider spent around $26,250 to buy those shares.
• What's Happening: On April 25, Riverview Bancorp posted a loss for fourth quarter.
• What Riverview Bancorp Does: Riverview Bancorp Inc is an American savings and loan holding company.

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