Although Dow Jones futures traded sharply lower this morning 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.
Sensient Technologies
- The Trade: Sensient Technologies Corporation (NYSE:SXT) 10% owner Freemont Capital Pte Ltd acquired a total of 28,454 shares at at an average price of $86.47. To acquire these shares, it cost around $2.46 million.
- What’s Happening: The company recently posted upbeat quarterly earnings.
- What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.
Truist Financial
- The Trade: Truist Financial Corporation (NYSE:TFC) Director Steven Voorhees acquired a total of 20,000 shares at an average price of $49.82. To acquire these shares, it cost around $1 million.
- What’s Happening: Truist recently announced the acquisition of Long Game.
- What Truist Financial Does: Based in Charlotte, North Carolina, Truist is the combination of BB&T and SunTrust. Truist is a regional bank with a presence primarily in the Southeastern United States.
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