Benzinga - Although US stocks closed mixed 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.
Caesars Entertainment
- The Trade: Caesars Entertainment, Inc. (NASDAQ: CZR) Director Michael Pegram acquired a total 25,000 shares an average price of $45.02. To acquire these shares, it cost around $1.13 million.
- What’s Happening: Caesars reported first-quarter revenue of $2.83 billion, which was up from $2.3 billion year-over-year and came in ahead of average analyst estimates of $2.76 billion.
- What Caesars Entertainment Does: Caesars Entertainment includes around 50 domestic gaming properties across Las Vegas (58% of 2022 EBITDAR before corporate and digital expenses) and regional (59%) markets.
- The Trade: Repligen Corporation (NASDAQ: RGEN) Director Martin Madaus acquired a total of 1,511 shares at an average price of $159.04. To acquire these shares, it cost around $240.31 thousand.
- What’s Happening: Repligen reported Q1 FY23 sales of $182.66 million, down 12% Y/Y as reported, beating the consensus of $181.43 million.
- What Repligen Does: Repligen Corp is a global life sciences company. It develops and commercializes innovative bioprocessing technologies and systems that increase efficiencies and flexibility in the process of manufacturing biological drugs.
Bread Financial Holdings
- The Trade: Bread Financial Holdings, Inc. (NYSE: BFH) 10% owner Turtle Creek Asset Management Inc bought a total of 257,618 shares at an average price of $24.88. To acquire these shares, it cost around $6.41 million.
- What’s Happening: Bread Finl Hldgs posted a rise in quarterly EPS.
- What Bread Financial Holdings Does: Formed by a combination of JCPenney's credit card processing unit and The Limited's credit card bank business, Bread Financial is a provider of private label and co-branded credit cards, loyalty programs, and marketing services.
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