Benzinga - Although US stocks closed lower 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.
Ryan Specialty
- The Trade: Ryan Specialty Holdings, Inc. (NYSE: RYAN) CEO Patrick Ryan acquired a total of 182,400 shares an average price of $33.86. To acquire these shares, it cost around $6.18 million.
- What’s Happening: Ryan Specialty recently reported worse-than-expected Q3 results.
- What Ryan Specialty Does: Ryan Specialty Holdings Inc, formerly Ryan Specialty Group Holdings Inc is a service provider of specialty products and solutions for insurance brokers, agents and carriers.
Alight
- The Trade: Alight, Inc. (NYSE: ALIT) Director Richard Massey acquired a total of 100,000 shares at at an average price of $8.41. To acquire these shares, it cost around $840.5 thousand.
- What’s Happening: Alight announced full exercise of over-allotment option in secondary offering.
- What Alight Does: Alight Inc is a provider of integrated, cloud-based human capital solutions that empower clients and employees to manage health, wealth and HR needs. Geographically, the company generates a majority of its revenue from the United States.
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Super Micro Computer
- The Trade: Super Micro Computer, Inc. (NASDAQ: SMCI) Director Leung Shiu Chan bought a total of 9,000 shares at an average price of $83.76. To acquire these shares, it cost around $753.84 thousand.
- What’s Happening: Super Micro Computer recently reported better-than-expected Q3 EPS and sales results.
- What Super Micro Computer Does: Super Micro Computer Inc provides high-performance server technology services to cloud computing, data center, Big Data, high-performance computing, and "Internet of Things" embedded markets.