Benzinga - by Lisa Levin, Benzinga Editor.
Although U.S. stocks closed higher 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.
Albemarle
- The Trade: Albemarle Corporation (NYSE: ALB) EVP, General Counsel Kristin Coleman acquired a total of 1,373 shares an average price of $121.86. To acquire these shares, it cost around $167,314.
- What’s Happening: Albemarle said net sales for the third quarter rose 10% to $2.3 billion.
- What Albemarle Does: Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries.
- The Trade: Life Time Group Holdings, Inc. (NYSE: LTH) Founder and CEO Bahram Akradi acquired a total of 90,000 shares at an average price of $12.70. To acquire these shares, it cost around $1.14 million.
- What’s Happening: Life Time Group reported better-than-expected earnings for its third quarter.
- What Life Time Group Does: Life Time Group Holdings Inc is engaged in designing, building, and operating distinctive and large, multi-use sports and athletic, professional fitness, family recreation and spa centres in a resort-like environment, principally in residential locations of metropolitan areas in the United States and Canada.
Arrow Financial
- The Trade: Arrow Financial Corporation (NASDAQ: AROW) SVP David Kaiser bought a total of 1,075 shares at an average price of $23.25. To acquire these shares, it cost around $24,994.
- What’s Happening: Arrow Financial reported better-than-expected third-quarter earnings.
- What Arrow Financial Does: Arrow Financial Corp is a holding company. The company provides various advisory and administrative services and coordinates the general policies and operations of the banks.
Check This Out: Insiders Selling Amazon, Costco And 2 Other Stocks
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.