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.
Bed Bath & Beyond
The Trade: Bed Bath & Beyond Inc. (NASDAQ: BBBY) EVP, CFO Gustavo Arnal acquired a total of 12500 shares at an average price of $20.44. To acquire these shares, it cost $255,550.00.
What’s Happening: Bed Bath & Beyond recently announced a partnership with Kroger.
What Bed Bath & Beyond Does: Bed Bath & Beyond is a home furnishings retailer, operating around 1,000 stores in all 50 states, Puerto Rico, Canada, and Mexico. Stores carry an assortment of branded bed and bath accessories, kitchen textiles, and cooking supplies.
PG&E
The Trade: PG&E Corporation (NYSE: PCG) Director Arno Lockheart Harris acquired a total of 8475 shares at an average price of $11.81. To acquire these shares, it cost $100,088.90.
What’s Happening: PG&E recently reported worse-than-expected Q3 EPS results.
What PG&E Does: PG&E is a holding company whose main subsidiary is Pacific Gas and Electric, a regulated utility operating in Central and Northern California that serves 5.3 million electricity customers and 4.4 million gas customers in 47 of the state’s 58 counties.
ViacomCBS
The Trade: ViacomCBS Inc. (NASDAQ: VIAC) Director Shari Redstone bought a total of 27525 shares at an average price of $36.30. The insider spent $999,063.91 to buy those shares.
What’s Happening: The company recently reported in-line quarterly earnings.
What ViacomCBS Does: ViacomCBS is the recombination of CBS and Viacom that has created a media conglomerate operating around the world. CBS’ television assets include the CBS television network, 28 local TV stations, and 50% of CW, a joint venture between CBS and Time Warner.
Mercer International
The Trade: Mercer International Inc. (NASDAQ: MERC) 10% owner Peter Kellogg bought a total of 162860 shares at an average price of $10.44. The insider spent $1,699,972.40 to buy those shares.
What’s Happening: The company, last month, posted upbeat quarterly results.
What Mercer International Does: Mercer International Inc operates in the pulp business and its operations are in Germany and Western Canada. The company is a producer of market northern bleached softwood kraft, or NBSK, pulp in the world.