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 outBenzinga's insider transactionsplatform.
Gulfport Energy
The Trade: Gulfport Energy Corporation Director Silver Point Capital Lp, Edward Mule, Robert Osheaacquired a total of 81251 sharesat an average price of $79.51. The insider spent $6,460,542.21 to acquire those shares.
What’s Happening: JP Morgan, last week, upgraded Gulfport Energy from Underweight to Neutral.
What Gulfport Energy Does: Gulfport Energy is an independent exploration and development company. The company operates through Utica Shale and Scoop properties.
The Trade: Marten Transport, Ltd. Director Jerry Baueracquired a total of 15000 shares at an average price of $15.07. To acquire these shares, it cost $226,050.00.
What’s Happening: Marten Transport, last month named Douglas P. Petit as its new President.
What Marten Transport Does:Marten Transport is a temperature-sensitive truckload carrier in the United States.
The Trade: Energy Transfer LP Director Richard Brannonbought a total of 44000 sharesat an average price of $9.18. To acquire these shares, it cost $403,880.00..
What’s Happening: Energy Transfer recently signed a 15-year Power Purchase Agreement with SB Energy for 120 megawatts of electricity from its Eiffel Solar project in northeast Texas.
What Energy Transfer Does: Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region.
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