Although the Dow Jones traded higher by more than 200 points 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.
Children's Place
- The Trade: The Children's Place, Inc. (NASDAQ: PLCE) Director John Bachman acquired a total of 2,500 shares at an average price of $48.83. To acquire these shares, it cost around $122.08 thousand.
- What’s Happening: UBS maintained Children's Place with a Neutral and lowered the price target from $85 to $60.
- What Children's Place Does: Children's Place Inc is a specialty retailer that sells accessories, footwear, and other items for children. The company has over a thousand stores in North America and also sells through its website and wholesale.
- The Trade: GameStop Corp . (NYSE: NYSE:GME) Director Lawrence Cheng acquired a total of 4,000 shares at an average price of $95.84. To acquire these shares, it cost around $383.36 thousand.
- What’s Happening: Wedbush, last week, maintained GameStop with an Underperform and lowered the price target from $45 to $30.
- 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.
Also check this: Executives Buy More Than $12M Of 3 Stocks
FIGS
- The Trade: FIGS, Inc. (NYSE: FIGS) 10% owner Thomas Tull bought a total of 6,553,637 shares at an average price of $19.75. To acquire these shares, it cost around $5.01 million.
- What’s Happening: Barclays (LON:BARC), earlier during the month, maintained FIGS with an Overweight and lowered the price target from $38 to $34.
- What FIGS Does: FIGS Inc is a healthcare apparel company. It offers more fitted scrubs for men and women made of its proprietary fabric FIONx, which provides four-way stretch and has anti-odor, anti-wrinkle and moisture-wicking properties.
- The Trade: Exelon Corporation (NASDAQ: NASDAQ:EXC) Director W. Paul Bowers bought a total of 4,500 shares at an average price of $43.56. The insider spent around $196.02 thousand to buy those shares.
- What’s Happening: Morgan Stanley (NYSE:MS) recently maintained Exelon with an Overweight and raised the price target from $47 to $50.
- What Exelon Does: Exelon serves approximately 10 million power and gas customers at its six regulated utilities in Illinois, Pennsylvania, Maryland, New Jersey, Delaware, and Washington, D.C.
Read at Benzinga