Benzinga - Although US stocks closed lower 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.
R1 RCM Holdco
- The Trade: R1 RCM Holdco Inc (NASDAQ: RCM) CEO Lee Rivas acquired a total of 71,767 shares an average price of $13.93. To acquire these shares, it cost around $1 million.
- What’s Happening: R1 RCM reported mixed Q4 financial results and issued guidance.
- What R1 RCM Holdco Does: R1 RCM Inc helps U.S. hospitals, physicians and other healthcare providers to more efficiently manage their revenue cycle operations, which encompass patient registration, insurance, and benefits verification, medical treatment documentation and coding, bill preparation and collections.
Appian
- The Trade: Appian Corp (NASDAQ: APPN) 10% owner Colin Moran acquired a total of 100,000 shares at an average price of $45.21. To acquire these shares, it cost around $4.52 million.
- What’s Happening: Appian posted upbeat quarterly results.
- What Appian Does: Appian Corp provides a low-code software development platform as a service that enables organizations to rapidly develop powerful and unique applications.
Byline Bancorp
- The Trade: Byline Bancorp Inc (NYSE: BY) 10% owner MBG Investors I LP bought a total of 45,000 shares at an average price of $24.99. To acquire these shares, it cost around $1.12 million.
- What’s Happening: Byline Bancorp, last month, posted upbeat quarterly earnings.
- What Byline Bancorp Does: Byline Bancorp Inc is the holding company for Byline Bank, a full-service commercial bank serving small-and-medium-sized businesses, financial sponsors, and consumers.
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