Although U.S. stocks closed higher on Friday, 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.
Sempra
- The Trade: Sempra (NYSE:SRE) Director Richard J Mark acquired a total of 1,925 shares at an average price of $77.97. To acquire these shares, it cost around $150,092.
- What's Happening: On May 17, Mizuho analyst Anthony Crowdell maintained Sempra with a Buy and raised the price target from $79 to $86.
- What Sempra Does: Sempra Energy serves one of the largest utility customer bases in the United States.
Equity Bancshares
- The Trade: Equity Bancshares, Inc. (NYSE:EQBK) Director Junetta M Everett acquired a total of 2,903 shares at an average price of $34.50. To acquire these shares, it cost around $100,154.
- What's Happening: On May 10, Equity Bank named Rick Sems as CEO.
- What Equity Bancshares Does: Equity Bancshares Inc is a bank holding company. The company's operation involves the delivery of loan and deposit products to customers.
Northwest Bancshares
- The Trade: Northwest Bancshares, Inc. (NASDAQ:NWBI) Director Timothy M Hunter bought a total of 10,000 shares at an average price of $11.30. To acquire these shares, it cost around $113,000.
- What's Happening: On April 22, Northwest Bancshares posted in-line quarterly earnings.
- What Northwest Bancshares Does: Northwest Bancshares Inc is a stockholding company for Northwest Bank.
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