Benzinga - Although US stocks closed mixed 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.
U.S. Bancorp
- The Trade: U.S. Bancorp (NYSE: USB) Director Alan B Colberg acquired a total of 10,000 shares an average price of $34.14. To acquire these shares, it cost around $341.38 thousand.
- What’s Happening: U.S. Bancorp reported better-than-expected Q1 financial results.
- What U.S. Bancorp Does: As a diversified financial-services provider, U.S. Bancorp is one of the nation's largest regional banks, with branches in roughly 26 states, primarily in the Western and Midwestern United States.
- The Trade: Delta Air Lines, Inc. (NYSE: DAL) Director David S Taylor acquired a total of 5,000 shares at an average price of $34.26. To acquire these shares, it cost around $171.28 thousand.
- What’s Happening: DAL reported a first-quarter FY23 adjusted operating revenue growth of 45% year-over-year and +14% from 1Q19 to $11.8 billion, missing the consensus of $11.98 billion.
- What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.
Citizens Financial Group
- The Trade: Citizens Financial Group, Inc. (NYSE: CFG) Director Shivan Subramaniam bought a total of 3,300 shares at an average price of $28.79. To acquire these shares, it cost around $95.01 thousand.
- What’s Happening: Citizens Financial Group reported Q1 revenue of $2.13 billion, up 29% Y/Y, below the consensus of $2.14 billion.
- What Citizens Financial Group Does: Citizens Financial Group is a retail bank holding company operating primarily in the New England, Mid-Atlantic, and Midwest regions of the United States.
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