Although US stock futures traded lower 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.
Eastman Kodak Company
- The Trade: Eastman Kodak Company (NYSE: KODK) Director David Chene acquired a total of 2,684,872 shares at an average price of $5.77. To acquire these shares, it cost around $15.48 million.
- What’s Happening: Eastman Kodak was recently granted U.S. Patent #11,279,842 aqueous fluid sets for inkjet printing methods.
- What Eastman Kodak Does: Eastman Kodak Co is a United States-based company. The company operates via several business segments: Print Systems, Enterprise Inkjet Systems, Kodak Software, Brand, Film and Imaging,
- The Trade: GMS Inc. (NYSE: GMS) 10% owner Christopher Shackelton acquired a total of 235,569 shares at an average price of $54.46. To acquire these shares, it cost around $3.77 million.
- What’s Happening: Loop Capital recently initiated coverage on GMS with a Buy rating and announced a price target of $62.
- What GMS Does: GMS Inc is a distributor of specialty building products including wallboard, suspended ceilings systems, or ceilings, steel framing, and other complementary building products.
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Also check this: Executives Buy More Than $12M Of 3 Stocks
GameStop
- The Trade: GameStop Corp . (NYSE: NYSE:GME) chairman Ryan Cohen bought a total of 100,000 shares at an average price of $101.76. To acquire these shares, it cost around $10.18 million.
- What’s Happening: GameStop shares jumped over 30% on Tuesday amid an increase in retail investor interest.
- What GameStop Does: GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States.
- The Trade: PubMatic, Inc. (NASDAQ: PUBM) 10% owner CNH Capital Co Ltd bought a total of 213,141 shares at an average price of $45.33. The insider spent around $9.66 million to buy those shares.
- What’s Happening: Pubmatic recently reinvestd 2021 Profits in engineering and infrastructure capabilities in Pune, India.
- What PubMatic Does: PubMatic Inc is engaged in the digital advertising business. The company provides a specialized cloud infrastructure platform that enables real-time programmatic advertising transactions.
Read at Benzinga