Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed higher 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.
Steel ConnectThe Trade: Steel Connect, Inc. (NASDAQ:STCN) 10% owner WF Asset Corp. acquired a total of 701,246 shares at an average price of $9.83. To acquire these shares, it cost around $6.89 million.
What's Happening: On March 15, Steel Connect reported second-quarter revenues of $43 million.
What Steel Connect Does: Steel Connect Inc is a diversified holding company. The company’s operating segment include Direct Marketing and Supply Chain.
MasterCraft BoatThe Trade: MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) 10% owner Adam Gray acquired a total of 133,122 shares at an average price of $21.08. To acquire these shares, it cost around $2.78 million.
What's Happening: MasterCraft Boat said it will report its fiscal third quarter 2024 earnings on May 8, 2024.
What MasterCraft Boat Does: MasterCraft Boat Holdings Inc designs, manufactures, and markets performance sport boats and outboard boats.
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EyePoint PharmaceuticalsThe Trade: EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) 10% owner Cormorant Global Healthcare Master Fund, LP bought a total of 581,765 shares at an average price of $18.03. To acquire these shares, it cost around $10.49 million.
What's Happening: On April 2, EyePoint Pharmaceuticals expanded its scientific advisory board with world-renowned retina specialists.
What EyePoint Pharmaceuticals Does: EyePoint Pharmaceuticals Inc is a pharmaceutical company. It is engaged in developing and commercializing ophthalmic products for the treatment of eye diseases.
Lindblad Expeditions HoldingsThe Trade: Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) Director Alex P Schultz bought a total of 33,016 shares at an average price of $7.47. The insider spent around $246,663 to buy those shares.
What's Happening: On April 22, Lindblad Expeditions Holdings announced the departure of Craig Felenstein, Chief Financial Officer, effective May 31.
What Lindblad Expeditions Holdings Does: Lindblad Expeditions Holdings Inc provides expedition cruising and adventure travel services.
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