Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed lower on Wednesday, 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.
Southland Holdings
- The Trade: Southland Holdings, Inc. (NASDAQ: SLND) Co-COO and EVP Rudolph V Renda acquired a total of 14,509 shares an average price of $5.05. To acquire these shares, it cost around $73,271.
- What’s Happening: On Nov. 13, Southland Holdings posted downbeat earnings for the third quarter.
- What Southland Holdings Does: Southland Holdings, headquartered in Grapevine, Texas, engages in specialty infrastructure construction business in North America and internationally.
- The Trade: AMREP Corporation (NYSE: AXR) 10% owner Rainey Lancaster acquired a total of 2,600 shares at an average price of $21.45. To acquire these shares, it cost around $55,775.
- What’s Happening: Amrep recently reported a decline in quarterly sales.
- What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.
Mistras Group
- The Trade: Mistras Group, Inc. (NYSE: MG) Director Nicholas Debenedictis bought a total of 3,000 shares at an average price of $7.05. To acquire these shares, it cost around $21,150.
- What’s Happening: On Nov. 2, MISTRAS Group posted upbeat quarterly earnings.
- What Mistras Group Does: MISTRAS Group Inc provides asset protection solutions and systems. The company evaluates the structural integrity and reliability of critical energy, industrial, and public infrastructure.
Check This Out: Top 4 Health Care Stocks That May Crash This Month
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.