Although US stocks traded lower by around 270 points 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.
Global Business Travel Group
- The Trade: Global Business Travel Group, Inc. (NYSE:GBTG) 10% owner Ares Partners Holdco Llc acquired a total of 425,568 shares at at an average price of $8.53. To acquire these shares, it cost around $3.63 million.
- What’s Happening: The company’s stock dropped around 23% over the previous six months.
- What Global Business Travel Does: Global Business Travel Group provides B2B travel platform services.
Chewy
- The Trade: Chewy, Inc. (NYSE:CHWY) Director James A Star acquired a total of 180,636 shares at an average price of $27.71. To acquire these shares, it cost around $5 million.
- What’s Happening: Chewy recently reported better-than-expected Q1 sales results.
- What Chewy Does: Chewy is the largest e-commerce pet care retailer in the U.S., generating $8.9 billion in 2021 sales across pet food, treats, hard goods, and pharmacy categories.
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Also check this: Executives Sell More Than $61M Of 4 Stocks
Hillenbrand
- The Trade: Hillenbrand, Inc. (NYSE:HI) Sr VP, Chief Financial Officer Robert M Vanhimbergen bought a total of 6,000 shares at an average price of $44.00. To acquire these shares, it cost around $264 thousand.
- What’s Happening: The company, last month, posted upbeat quarterly results.
- What Hillenbrand Does: Hillenbrand Inc is a U.S.-based company that operates through three segments. The Advanced Process Solutions segment designs, develops, manufactures, and services engineered industrial equipment.
