Benzinga - by Lisa Levin, Benzinga Editor.
Although U.S. stocks closed higher 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.
Funko
- The Trade: Funko, Inc. (NASDAQ: FNKO) 10% owner Chan Kenneth Hsiangtze acquired a total of 225,782 shares an average price of $6.84. To acquire these shares, it cost around $1.54 million.
- What’s Happening: Funko reported a second-quarter earnings miss and issued weak guidance.
- What Funko Does: Funko Inc is an US-based pop culture consumer products company. It creates whimsical, fun, and different products which enable the customer to express their affinity for their favorite through the movie, TV show, video game, musician, or sports team.
- The Trade: Conagra Brands, Inc. (NYSE: CAG) Director Richard Lenny acquired a total of 9,238 shares at an average price of $27.31. To acquire these shares, it cost around $252,290.
- What’s Happening: ConAgra Brands reported upbeat earnings for its first quarter.
- What Conagra Brands Does: Conagra Brands is a packaged food company that operates predominantly in the United States (over 90% of revenue and profits).
Coty
- The Trade: Coty Inc. (NYSE: COTY) Director Isabelle Parize bought a total of 4,775 shares at an average price of $10.50. To acquire these shares, it cost around $50,138.
- What’s Happening: Coty priced global offering of 33 million outstanding Class A common stock at $10.80.
- What Coty Does: Coty Inc is a global beauty firm that sells fragrance, color cosmetics, and skin and body care. It licenses brands such as Calvin Klein, Hugo Boss, Gucci, Burberry, and Davidoff for its prestige portfolio.
Check This Out: Fastenal Gears Up For Q3 Print; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.