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.
Friedman Industries
- The Trade: Friedman Industries, Incorporated (NYSE: FRD) President, CEO Michael J. Taylor acquired a total of 10,000 shares an average price of $7.80. To acquire these shares, it cost around $78 thousand.
- What’s Happening: Friedman Industries recently posted Q1 EPS of $1.55.
- What Friedman Industries Does: Friedman Industries Inc is engaged in the manufacturing and processing of steel products. The company's operating segment include Coil Products and Tubular Products.
- The Trade: Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) SVP, Chief Operating Officer Tony Wehner acquired a total of 14,823 shares at an average price of $33.86. To acquire these shares, it cost around $501.91 thousand.
- What’s Happening: Piper Sandler recently maintained Dave & Buster's with a Neutral and lowered the price target from $44 to $34.
- What Dave & Buster's Entertainment Does: Dave & Buster's Entertainment Inc owns and operates nearly a hundred entertainment and dining establishments in the United States where customers can eat, drink, play games, and watch televised sports.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Also check this: US Stock Futures Mixed Ahead Of Fed's Beige Book; Tesla Earnings In Focus
VOXX International
- The Trade: VOXX International Corporation (NASDAQ: VOXX) President and CEO Patrick M Lavelle bought a total of 8,234 shares at an average price of $6.25. To acquire these shares, it cost around $51.46 thousand.
- What’s Happening: The company recently posted downbeat quarterly results.
- What VOXX International Does: VOXX International Corp is a manufacturer and supplier of consumer electronic products in the automotive, premium audio, and accessory industries.