US stock futures traded mostly lower this morning despite Apple Inc (NASDAQ:AAPL) reporting better-than-expected results for its first quarter. Investors, meanwhile, focused on some 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.
NextEra Energy
- The Trade: NextEra Energy, Inc. (NYSE:NEE) Director Naren Gursahaney acquired a total of 2,000 shares at an average price of $73.62. To acquire these shares, it cost around $147.25 thousand.
- What’s Happening: NextEra Energy recently reported worse-than-expected Q4 sales results.
- What NextEra Energy Does: NextEra Energy's regulated utility, Florida Power & Light, distributes power to roughly 5 million customers in Florida. FP&L contributes roughly 60% of the group's operating earnings.
Flexsteel Industries
- The Trade: Flexsteel Industries, Inc. (NASDAQ:FLXS) Director Kathryn Dickson acquired a total of 2,133 shares at an average price of $23.90. To acquire these shares, it cost $50.98 thousand.
- What’s Happening: Flexsteel Industries recently posted a Q2 loss of $1.05 per share.
- What Flexsteel Industries Does: Flexsteel Industries Inc is a United States-based company that manufactures, imports, and markets residential and commercial upholstered wooden furniture products.
Check out these penny stocks insiders are buying
Banc of California
- The Trade: Banc of California, Inc. (NYSE:BANC) President and CEO Jared M Wolff bought a total of 5,015 shares at an average price of $19.70. To acquire these shares, it cost $98.8 thousand.
- What’s Happening: Banc of California recently posted downbeat quarterly earnings.
- What Banc of California Does: Banc of California Inc is a is a financial holding company. It offers banking and financial services. The company's services include banking services, lending services, and private banking services.
