Although crude oil futures traded lower this morning on Monday, 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.
Invesco
- The Trade: Invesco Ltd. (NYSE: IVZ) 10% owner Trian Fund Management Lp acquired a total of 2,429,025 shares at an average price of $21.73. To acquire these shares, it cost around $52.79 million.
- What’s Happening: The company’s stock gained around 4% over the past month.
- What Invesco Does: Invesco provides investment-management services to retail (69% of managed assets) and institutional (31%) clients. At the end of 2021, the firm had $1.611 trillion in assets under management spread among its equity (52% of AUM), balanced (6%), fixed-income (21%), alternative investment (12%), and money market (9%) operations.
- The Trade: JELD-WEN Holding, Inc. (NYSE: JELD) 10% owner Turtle Creek Asset Management Inc acquired a total of 746,959 shares at an average price of $22.30. To acquire these shares, it cost around $16.66 million.
- What’s Happening: JELD-WEN’s current CFO, John Linker, decided to resign to pursue another CFO opportunity and transition his responsibilities by the end of March.
- What JELD-WEN Holding Does: JELD-WEN Holding Inc is engaged in door and window manufacturing. The company design, produce and distribute interior and exterior doors, windows, and related products.
Also check this: Executives Buy Over $2.2M Of 3 Penny Stocks
Cricut
- The Trade: Cricut, Inc. (NASDAQ: CRCT) 10% owner Colin Moran bought a total of 100,000 shares at an average price of $12.20. To acquire these shares, it cost around $1.22 million.
- What’s Happening: Cricut recently reported worse-than-expected Q4 sales results.
- What Cricut Does: Cricut Inc designs and builds a creativity platform that enables users to turn ideas into professional-looking handmade goods.
Read at Benzinga