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$8.7M Bet On Mercury Systems? Check Out These 4 Stocks Insiders Are Buying

Published Nov 21, 2023 13:39 Updated Nov 21, 2023 14:40
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© Reuters. $8.7M Bet On Mercury Systems? Check Out These 4 Stocks Insiders Are Buying
 
MRCY
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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.

Mercury Systems

  • The Trade: Mercury Systems, Inc. (NASDAQ: MRCY) Director Jana Partners Management LP acquired a total of 259,922 shares an average price of $33.42. To acquire these shares, it cost around $8.69 million.
  • What’s Happening: Mercury Systems reported worse-than-expected first-quarter financial results.
  • What Mercury Systems Does: Mercury Systems Inc is a commercial technology company serving the aerospace and defense industry.
NCR Voyix
  • The Trade: NCR Voyix Corporation (NYSE: VYX) Director James G Kelly acquired a total of 64,200 shares at an average price of $15.50. To acquire these shares, it cost around $1 million.
  • What’s Happening: NCR Voyix posted third-quarter sales of $2.02 billion.
  • What NCR Voyix Does: NCR Voyix Corp is a company providing services of digital commerce solutions for retail, restaurant and digital banking.
Don’t forget to check out our premarket coverage here

Groupon

  • The Trade: Groupon, Inc. (NASDAQ: GRPN) 10% owner Pale Fire Capital SICAV a.s. bought a total of 323,344 shares at an average price of $9.49. To acquire these shares, it cost around $3.07 million.
  • What’s Happening: Groupon reported worse-than-expected third-quarter financial results..
  • What Groupon Does: Groupon acts as the middleman between consumers and merchants, offering a variety of products and services at discounts via its online store.
Enphase Energy
  • The Trade: Enphase Energy, Inc. (NASDAQ: ENPH) President and CEO Badri Kothandaraman bought a total of 1,118 shares at an average price of $90.23,. The insider spent around $100,873 to buy those shares.
  • What’s Happening: Mizuho initiated coverage on Enphase Energy with a Buy rating and announced a price target of $131.
  • What Enphase Energy Does: Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform.

Check This Out: NVIDIA, Best Buy And 3 Stocks To Watch Heading Into Tuesday

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

$8.7M Bet On Mercury Systems? Check Out These 4 Stocks Insiders Are Buying
 

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