Although US stock futures traded lower this morning 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.
Lions Gate Entertainment
- The Trade: Lions Gate Entertainment Corp. (NYSE: LGF-B) Director Gordon Crawford acquired a total of 58,687 shares at at an average price of $9.57. To acquire these shares, it cost around $561.72 thousand.
- What’s Happening: Lionsgate recently reported Q4 revenue of $929.9 million and operating loss of $50.4 million.
- What Lions Gate Entertainment Does: Lions Gate engages in the film, television, subscription, and location-based entertainment businesses in the United States, Canada, and internationally.
- The Trade: CommScope Holding Company, Inc. (NASDAQ: COMM) EVP and CFO David Kyle Lorentzen acquired a total of 17,887.465 shares at an average price of $8.11. To acquire these shares, it cost around $145 thousand.
- What’s Happening: CommScope, last month, reported better-than-expected Q1 adjusted EPS and sales results.
- What CommScope Holding Does: CommScope Holding Co Inc provides infrastructure services for communications networks.
Also check this: Executives Sell Around $200M Of 5 Stocks
HireRight Holdings
- The Trade: HireRight Holdings Corporation (NYSE: HRT) Director Stone Point GP Ltd bought a total of 29,991 shares at an average price of $14.94. To acquire these shares, it cost around $448.04 thousand.
- What’s Happening: HireRight upsized its revolving credit facility to $145 million.
- What HireRight Holdings Does: HireRight Holdings Corp is a global provider of technology-driven workforce risk management and compliance solutions.
Read at Benzinga