Benzinga - by Lisa Levin, Benzinga Editor.
Although U.S. stocks closed higher on Monday, 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.
Southwest Gas Holdings
- The Trade: Southwest Gas Holdings, Inc. (NYSE: SWX) 10% owner Icahn Partners Master Fund LP acquired a total of 44,256 shares an average price of $61.98. To acquire these shares, it cost around $2.74 million.
- What’s Happening: Southwest Gas posted better-than-expected second-quarter earnings results.
- What Southwest Gas Holdings Does: Southwest Gas Holdings Inc is a utility company primarily engaged in the purchasing, distributing, and transporting of natural gas in the American Southwest.
- The Trade: Dollar Tree, Inc. (NASDAQ: DLTR) Director Daniel Heinrich acquired a total of 1,650 shares at an average price of $105.24. To acquire these shares, it cost around $173,646.
- What’s Happening: Dollar Tree reported better-than-expected earnings and sales results for its second quarter.
- What Dollar Tree Does: Dollar Tree operates discount stores in the U.S. and Canada, including 8,134 shops under its namesake banner and 8,206 Family Dollar units (as of the end of fiscal 2022).
Agree Realty
- The Trade: Agree Realty Corporation (NYSE: ADC) Director John Rakolta Jr bought a total of 30,000 shares at an average price of $57.48. To acquire these shares, it cost around $1.72 million.
- What’s Happening: Agree Realty promoted Nicole Witteveen to COO.
- What Agree Realty Does: Agree Realty Corporation operates as a fully integrated real estate investment trust mainly focused on the ownership, acquisition, development and management of retail properties net leased to industry-leading tenants.
Check This Out: Top 4 Tech Stocks That May Explode In Q3
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.