Although U.S. stocks closed lower on Thursday, 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.
American Public Education
- The Trade: American Public Education, Inc. (NASDAQ:APEI) 325 Capital GP, LLC acquired a total of 73,022 shares at an average price of $14.16. To acquire these shares, it cost around $1.03 million.
- What's Happening: On Aug. 6, American Public Education reported worse-than-expected second-quarter financial results.
- What American Public Education Does: American Public Education Inc provides online and on-campus postsecondary education including various undergraduate and graduate degree programs.
Comstock Resources
- The Trade: Comstock Resources, Inc. (NYSE:CRK) Director Mark A Alexander acquired a total of 3,132,600 shares at an average price of $10.99. To acquire these shares, it cost around $34.4 million.
- What's Happening: On Aug. 15, Piper Sandler analyst Mark Lear downgraded Comstock Resources from Neutral to Underweight and lowered the price target from $8 to $5.
- What Comstock Resources Does: Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets.
Madison Square Garden Entertainment
- The Trade: Madison Square Garden Entertainment Corp. (NYSE:MSGE) Director Frederic V Salerno bought a total of 5,000 shares at an average price of $41.25. To acquire these shares, it cost around $206,250.
- What's Happening: On Aug 16, the company said revenue rose 26% year-on-year to $186.1 million, beating the analyst consensus estimate of $169.6 million..
- What Madison Square Garden Entertainment Does: Madison Square Garden Entertainment Corp provides live entertainment, delivering unforgettable experiences while forging deep connections with diverse and passionate audiences.
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