Benzinga - Although US 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.
JELD-WEN Holding
- The Trade: JELD-WEN Holding, Inc. (NYSE: JELD) 10% owner Turtle Creek Asset Management Inc acquired a total of 93,700 shares an average price of $12.03. To acquire these shares, it cost around $1.13 million.
- What’s Happening: JELD-WEN announced restructuring plan to close manufacturing facility in Atlanta.
- What JELD-WEN Holding Does: JELD-WEN Holding Inc is engaged in door and window manufacturing.
Triumph Financial
- The Trade: Triumph Financial, Inc. (NASDAQ: TFIN) Director Carlos Sepulveda acquired a total of 47,000 shares at an average price of $54.47. To acquire these shares, it cost around $2.56 million.
- What’s Happening: Keefe, Bruyette & Woods maintained Triumph Financial with a Market Perform and lowered the price target from $65 to $62.
- What Triumph Financial Does: Triumph Bancorp Inc is a Texas-based financial holding company offering traditional banking industry and provides asset management services.
Merrimack Pharmaceuticals
- The Trade: Merrimack Pharmaceuticals, Inc (NASDAQ: MACK) 10% owner Western Standard Partners QP, L.P. bought a total of 21,875 shares at an average price of $11.40. To acquire these shares, it cost around $249.3 thousand.
- What’s Happening: Merrimack Pharmaceuticals partner Ipsen, during November, said Onivyde met its primary and key secondary endpoint. Merrimack is eligible for up to $450 million in milestone payments for the pancreatic cancer treatment.
- What Merrimack Pharmaceuticals Does: Merrimack Pharmaceuticals Inc is a biotechnology company that discovers, develops, and commercializes innovative medicines that consist of novel therapeutics paired with diagnostics to treat cancer.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.