Benzinga - Although US stocks closed mixed on Wednesday, 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.
Occidental Petroleum
- The Trade: Occidental Petroleum Corporation (NYSE: OXY) 10% owner Warren E Buffett acquired a total of 7,886,964 shares an average price of $59.17. To acquire these shares, it cost around $466.68 million.
- What’s Happening: Occidental Petroleum posted weaker-than-expected quarterly earnings.
- What Occidental Petroleum Does: Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East.
- The Trade: Ryan Specialty Holdings, Inc. (NYSE: RYAN) CEO Patrick Ryan acquired a total of 208,100 shares at an average price of $37.39. To acquire these shares, it cost around $7.78 million.
- What’s Happening: Ryan Specialty Group posted upbeat quarterly results.
- What Ryan Specialty Holdings Does: Ryan Specialty Holdings Inc, formerly Ryan Specialty Group Holdings Inc is a service provider of specialty products and solutions for insurance brokers, agents and carriers.
Crocs
- The Trade: Crocs, Inc. (NASDAQ: CROX) Director Thomas Smach bought a total of 3,000 shares at an average price of $113.15. To acquire these shares, it cost around $339.44 thousand.
- What’s Happening: Crocs reported better-than-expected Q4 EPS and sales results and issued Q1 and FY23 adjusted EPS guidance above estimates.
- What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children.
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