Although crude oil futures traded lower 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.
Blue Apron
- The Trade: Blue Apron Holdings, Inc. (NYSE: APRN) 10% owner RJB Partners LLC acquired a total of 3,333,333 shares at at an average price of $12.00. To acquire these shares, it cost around $40 million.
- What’s Happening: Blue Apron announced a $70.5 million planned capital infusion through debt and equity financings.
- What Blue Apron Does: Blue Apron Holdings Inc is a United States-based company involved in discovering new recipes, ingredients, and cooking techniques to prepare meals that are sent along with fresh, seasonal ingredients, directly to customers.
- The Trade: iHeartMedia, Inc. (NASDAQ: IHRT) 10% owner Tabor Michael acquired a total of 2,679,693 shares at an average price of $16.41. To acquire these shares, it cost around $43.96 million.
- What’s Happening: iHeartMedia named Sarah van Mosel as Executive Vice President of the iHeart Audience Network (iAN).
- 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.
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Also check this: 4 Stocks Under $2 Insiders Are Aggressively Buying
General Electric
- The Trade: General Electric Company (NYSE: NYSE:GE) Chairman and CEO H. Lawrence Culp Jr. bought a total of 65,000 shares at an average price of $74.53. To acquire these shares, it cost around $4.84 million.
- What’s Happening: Morgan Stanley (NYSE:MS) recently maintained General Electric with an Overweight and lowered the price target from $120 to $115.
- What General Electric Does: GE was formed through the combination of two companies in 1892, including one with historical ties to American inventor Thomas Edison.
- The Trade: Sensient Technologies Corporation (NYSE: SXT) 10% owner Freemont Capital Pte Ltd bought a total of 33,887 shares at an average price of $84.36. The insider spent around $2.86 million to buy those shares.
- What’s Happening: The company recently posted upbeat quarterly earnings.
- What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.
Read at Benzinga