The Dow Jones settled lower by more than 300 points on Thursday. Investors, meanwhile, focused on some notable insider trades.
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.
SeaChange International
- The Trade: SeaChange International, Inc. (NASDAQ:SEAC) 10% owner Karen Singer bought a total of 42,111 shares at an average price of $0.44. To acquire these shares, it cost around $18.53 thousand.
- What's Happening: SeaChange International recently posted a Q3 loss of $0.07 per share.
- What SeaChange International Does: SeaChange International Inc is a provider of multiscreen video solutions for television service providers, telecommunications companies, satellite operators, and media companies.
Muscle Maker
- The Trade: Muscle Maker, Inc. (NASDAQ:GRIL) Director Frost Malcolm B acquired a total of 6,579 shares at an average price of $0.76. The insider spent around $5 thousand to buy those shares.
- What's Happening: Muscle Maker's new subsidiary Sadot LLC generated $54.19 million in revenue for November, its first month of operation and management by AGGIA LLC FZ.
- What Muscle Maker Does: Muscle Maker Inc is engaged in the restaurant business.
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KORE Group Holdings
- The Trade: KORE Group Holdings, Inc. (NYSE:KORE) EVP, Chief Legal Officer & Sec Jack William Kennedy Jr. acquired a total of 6,250 shares at an average price of $1.61. To acquire these shares, it cost around $10.09 thousand.
- What's Happening: Morgan Stanley recently maintained Kore Group Holdings with an Equal-Weight and raised the price target from $2.2 to $2.5.
- What KORE Group Does: Kore Group Holdings Inc provides Internet of things (IoT) solutions and services. In addition to providing critical services to customers globally, it enables them to manage, deploy, and scale their IoT applications and use cases.
Creatd
- The Trade: Creatd, Inc. (OTC:CRTD) Executive Chairman Jeremy Frommer acquired a total of 5,000 shares at an average price of $0.58. The insider spent $2.9 thousand to buy those shares.
- What's Happening: The company's stock dropped around 23% over the past six months.
- What Creatd Does: Creatd Inc empowers creators, brands, and entrepreneurs through technology and partnership.