Although US stocks closed sharply lower on Monday amid escalating Russia-Ukraine concerns, 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.
Crocs
- The Trade: Crocs, Inc. (NASDAQ:CROX) Director Beth Kaplan acquired a total of 1,430 shares at an average price of $69.63. To acquire these shares, it cost around $99.57 thousand.
- What’s Happening: Crocs recently issued Q1 sales guidance below estimates..
- What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children. The reportable geographic segments of the company include Americas, Asia pacific, and EMEA.
Skechers U.S.A.
- The Trade: Skechers U.S.A., Inc. (NYSE:SKX) President Michael Greenberg acquired a total of 103,000 shares at an average price of $37.41. To acquire these shares, it cost around $3.85 million.
- What’s Happening: Skechers USA, last month, reported better-than-expected Q4 EPS and sales results and issued Q1 sales guidance above estimates.
- What Skechers U.S.A. Does: Skechers USA Inc is a lifestyle footwear company under the Skechers GO brand name. Products offered include various styles of women's shoes, men's shoes, girl's shoes, boy's shoes, performance shoes, and work shoes.
Also check this: 3 Penny Stocks Insiders Are Buying
Tripadvisor
- The Trade: Tripadvisor, Inc. (NASDAQ:TRIP) Director Gregory Maffei bought a total of 50,000 shares at an average price of $22.38. To acquire these shares, it cost around $1.12 million.
- What’s Happening: TripAdvisor, last month, reported worse-than-expected Q4 adjusted EPS and sales results..
- What Tripadvisor Does: TripAdvisor is the world's leading travel metasearch company.
AES Corporation
- The Trade: The AES Corporation (NYSE:AES) EVP and CFO Stephen Coughlin bought a total of 47,000 shares at an average price of $21.30. The insider spent around $1 million to buy those shares.
- What’s Happening: AES recently filed for mixed shelf offering.
- What AES Does: AES is a global power company with businesses in 14 countries. It has a portfolio of more than 100 power plants and wind and solar farms. Its current construction program will increase its net generating capacity to over 35 gigawatts.
