Although U.S. stocks closed lower on Tuesday, 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.
CVB Financial
- The Trade: CVB Financial Corp. (NASDAQ:CVBF) EVP and CCO David F Farnsworth acquired a total of 1,100 shares at an average price of $16.41. To acquire these shares, it cost around $18,051.
- What's Happening: On April 24, CVB Financial posted upbeat quarterly sales.
- What CVB Financial Does: CVB Financial Corp is the holding company for Citizens Business Bank. Citizens Business Bank offers banking, lending, and investing services.
Goosehead Insurance
- The Trade: Goosehead Insurance, Inc (NASDAQ:GSHD) President and COO Mark Miller acquired a total of 10,000 shares at an average price of $58.07. To acquire these shares, it cost around $580,650.
- What's Happening: On April 24, Goosehead Insurance shares are trading lower after the company reported worse-than-expected first-quarter sales results and issued FY24 revenue guidance below estimates.
- What Goosehead Insurance Does: Goosehead Insurance Inc operates as an insurance agency.
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AMREP
- The Trade: AMREP Corporation (NYSE:AXR) 10% owner Rainey E. Lancaster bought a total of 5,000 shares at an average price of $21.04. To acquire these shares, it cost around $105,200.
- What's Happening: On March 8, AMREP reported earnings of 2 cents per share for its 2024 fiscal third quarter, versus year-ago earnings of $3.12 per share.
- What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.
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