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Although U.S. stocks closed higher on Friday, 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.
Appian The Trade: Appian Corporation APPN 10% owner Colin T. Moran acquired a total of 545,121 shares at an average price of $33.14.
To acquire these shares, it cost around $18.13 million. What's Happening: On May 2, Appian reported worse-than-expected quarterly earnings.
What Appian Does: Appian is a low-code enterprise platform-as-a-service company focusing on business process management. Alta Equipment Group The Trade: Alta Equipment Group Inc. ALTG 10% owner Thomas E Lynch acquired a total of 179,414 shares at an average price of $8.
05. To acquire these shares, it cost around $1.4 million.
What's Happening: On July 3, Alta Equipment Group announced a quarterly dividend on its Series A Cumulative Perpetual Preferred Stock in the amount of $625 per preferred share. What Alta Equipment Group Does: Alta Equipment Group Inc is an integrated equipment dealership platform in the U.S.
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