Although US stock futures traded higher this morning on Thursday, 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.
iHeartMedia
- The Trade: iHeartMedia, Inc. (NASDAQ: IHRT) 10%+ owner Michael Tabor acquired a total of 2,826,612 shares at at an average price of $17.38. To acquire these shares, it cost around $49.14 million.
- What’s Happening: The company is scheduled to release quarterly results on May 5, 2022.
- What iHeartMedia Does: iHeartMedia Inc is a US-based diversified media and entertainment company. It operates through the segments of the Multiplatform Group, the Digital Audio Group and the Audio & Media Services Group.
- The Trade: Affirm Holdings, Inc. (NASDAQ: AFRM) 10% owner Jasmine Ventures Pte Ltd acquired a total of 700,000 shares at an average price of $32.19. To acquire these shares, it cost around $22.54 million.
- What’s Happening: The company’s shares dropped 32% over the past month.
- What Affirm Holdings Does: Affirm offers a platform for digital and mobile-first commerce. It comprises a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app.
Also check this: 4 Stocks Under $2 Insiders Are Aggressively Buying
Groupon
- The Trade: Groupon, Inc. (NASDAQ: GRPN) shareholder Pale Fire Capital SE bought a total of 334,845 shares at an average price of $19.54. To acquire these shares, it cost around $6.54 million.
- What’s Happening: Groupon, last month, reported worse-than-expected Q4 EPS and sales results and issued Q1 sales guidance below estimates.
- 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.
Read at Benzinga