Although US stocks closed lower on Tuesday, 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.
LL Flooring Holdings
- The Trade: LL Flooring Holdings, Inc. (NYSE: LL) Director Famous Rhodes acquired a total of 6,635 shares at an average price of 9.86. To acquire these shares, it cost around $65.39 thousand.
- What’s Happening: LL Flooring Holdings recently reported a second-quarter FY22 sales decline of 0.8% year-on-year to $299 million, missing the consensus of $303.20 million.
- What LL Flooring Does: LL Flooring Holdings Inc is a specialty retailer of hardwood flooring in North America. The firm primarily operates across the U.S. and Ontario, Canada, through its retail store operations segment.
- The Trade: ArrowMark Financial Corp. (NASDAQ: BANX) CEO Sanjai Bhonsle acquired a total 4,000 shares at an average price of $19.36. To acquire these shares, it cost around $77.42 thousand.
- What’s Happening: The company, last week, reported downbeat Q2 results.
- What ArrowMark Financial Does: StoneCastle Financial Corp is a non-diversified, closed-end management investment company. Its objective is to provide stockholders with current income, and to a lesser extent capital appreciation.
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VOXX International
- The Trade: VOXX International Corporation (NASDAQ: VOXX) 10% owner Avalon Park Group Holding AG bought a total of 10,000 shares at an average price of $9.06. To acquire these shares, it cost around $90.6 thousand.
- What’s Happening: VOXX International, last month, reported worse-than-expected Q1 sales results.
- What VOXX International Does: VOXX International Corp is a manufacturer and supplier of consumer electronic products in the automotive, premium audio, and accessory industries.
Read at Benzinga