Benzinga - by Lisa Levin, Benzinga Editor.
Although U.S. stocks closed lower 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.
Citi Trends
- The Trade: Citi Trends, Inc. (NASDAQ: CTRN) 10% owner Pleasant Lake Onshore Feeder Fund LP acquired a total of 78,724 shares an average price of $23.75. To acquire these shares, it cost around $1.87 million. The company’s Director also sold 12,000 shares of the company.
- What’s Happening: On Nov. 28, Citi Trends reported a third-quarter sales decline of 6.7% year-on-year to $179.52 million compared to $192.32 million last year.
- What Citi Trends Does: Citi Trends Inc is a retailer of urban fashion apparel and accessories in the United States.
- The Trade: Hillenbrand, Inc. (NYSE: HI) Director Helen W Cornell acquired a total of 6,491 shares at an average price of $38.43. To acquire these shares, it cost around $249,423.
- What’s Happening: On Nov. 15, Hillenbrand posted better-than-expected results for its fourth quarter.
- What Hillenbrand Does: Hillenbrand Inc is a U.S.-based company that operates through three segments.
Helius Medical Technologies
- The Trade: Helius Medical Technologies, Inc. (NASDAQ: HSDT) President and CEO Dane Andreeff bought a total of 4,006 shares at an average price of $6.41. To acquire these shares, it cost around $25,675.
- What’s Happening: On Nov. 9, Helius Medical Tech posted a narrower-than-expected loss for the third quarter.
- What Helius Medical Technologies Does: Helius Medical Technologies Inc is a neurotech company focused on neurological wellness.
Check This Out: Top 4 Financial Stocks That May Fall Off A Cliff In Q4
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.