Although the Nasdaq Composite dropped 1.2% 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.
American Homes 4 Rent
- The Trade: American Homes 4 Rent (NYSE: AMH) Director Hughes Tamara Gustavson acquired a total of 755,000 shares at at an average price of $36.63. To acquire these shares, it cost around $27.66 million.
- What’s Happening: American Homes 4 Rent recently posted Q1 FFO of $0.38.
- What American Homes 4 Rent Does: American Homes 4 Rent is a real estate investment trust primarily focused on acquiring, operating, and leasing single-family homes as rental properties throughout the United States.
- The Trade: Starbucks Corporation (NASDAQ: NASDAQ:SBUX) Interim CEO Howard D Schultz acquired a total of 72,500 shares at an average price of $68.85. To acquire these shares, it cost around $4.99 million.
- What’s Happening: Starbucks will reimburse U.S. employees if they must travel more than 100 miles from their homes to obtain an abortion, Reuters reported.
- What Starbucks Does: Starbucks is one of the most widely recognized restaurant brands in the world, operating nearly 34,000 stores across more than 80 countries as of the end of fiscal 2021.
Also check this: Executives Sell More Than $220M Of 3 Stocks
CSX
- The Trade: CSX Corporation (NASDAQ: NASDAQ:CSX) Director James Wainscott bought a total of 10,000 shares at an average price of $33.21. To acquire these shares, it cost around $332.05 thousand.
- What’s Happening: The company, last month, posted upbeat quarterly results.
- What CSX Does: Operating in the Eastern United States, Class I railroad CSX generated revenue near $12.5 billion in 2021.
Read at Benzinga