Although U.S. stocks closed higher 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.
Citi Trends
- The Trade: Citi Trends, Inc. (NASDAQ:CTRN) 10% owner Pleasant Lake Partners LLC acquired a total of 25,266 shares an average price of $23.96. To acquire these shares, it cost around $605,433.
- What's Happening: On March 19, Citi Trends reported worse-than-expected fourth-quarter financial results.
- What Citi Trends Does: Citi Trends Inc is a retailer of urban fashion apparel and accessories in the United States.
GeneDx Holdings
- The Trade: GeneDx Holdings Corp. (NYSE:WGS) 10% owner Casdin Partners FO1-MSV, LP acquired a total of 50,000 shares at an average price of $23.31. To acquire these shares, it cost around $1.17 million.
- What's Happening: On April 30, GeneDx reported better-than-expected first-quarter financial results.
- What GeneDx Holdings Does: GeneDx Holdings Corp delivers personalized and actionable health insights to inform diagnosis, direct treatment and improve drug discovery.
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SecureWorks
- The Trade: SecureWorks Corp. (NASDAQ:SCWX) 10% owner Neil Gagnon bought a total of 9,233 shares at an average price of $6.32. To acquire these shares, it cost around $58,596.
- What's Happening: On March 14, SecureWorks reported financial fourth-quarter results above estimates and issued FY25 guidance.
- What SecureWorks Does: SecureWorks Corp is a cybersecurity provider of technology-driven solutions singularly focused on protecting its customers by outpacing and outmaneuvering the adversary.
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