Although US stocks closed sharply lower 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.
Groupon
- The Trade: Groupon, Inc. (NASDAQ: GRPN) shareholder Pale Fire Capital acquired a total of 312,661 shares at at an average price of $20.14. To acquire these shares, it cost around $6.3 million.
- What’s Happening: Groupon, last month, reported worse-than-expected Q4 results and issued Q1 sales guidance below estimates.
- What Groupon Does: Groupon, Inc., together with its subsidiaries, operates a marketplace that connects consumers to merchants.
- The Trade: CBL & Associates Properties, Inc. (NYSE: CBL) Director Jonathan M Heller acquired a total of 100,000 shares at an average price of $32.25. To acquire these shares, it cost around $3.23 million.
- What’s Happening: CBL Properties, last month, announced results for the fourth quarter and year ended December 31, 2021.
- What CBL & Associates Properties Does: CBL & Associates Properties Inc is a U.S.-based real estate investment trust. The company engages in managing, acquiring, and leasing residential and commercial properties.
Also check this: 3 Stocks Under $2 Insiders Are Aggressively Buying
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Affirm Holdings
- The Trade: Affirm Holdings, Inc. (NASDAQ: AFRM) 10% owner Jasmine Ventures Pte Ltd bought a total of 134,197 shares at an average price of $34.98. To acquire these shares, it cost around $4.69 million.
- What’s Happening: Affirm and Poshmark recently reported two-year extension of partnership.
- What Affirm Holdings Does: Affirm Holdings Inc 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.
Read at Benzinga