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.
What’s Happening: Cirrus Logic, last month, reported better-than-expected quarterly results.
What Cirrus Logic Does: Cirrus Logic is a provider of integrated circuits for audio and voice signal processing applications.
What’s Happening: Ralph Lauren recently reported first-quarter FY22 revenue growth of 182% year-on-year, to $1.38 billion, beating the analyst consensus of $1.21 billion.
What Ralph Lauren Does: Founded in 1967 by Ralph Lauren, Ralph Lauren Corp. designs, markets, and distributes lifestyle products in North America, Europe, and Asia.
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The Trade: Kodiak Sciences Inc. (NASDAQ: KOD) Director Baker Bros Advisors Lp, Lp, Baker Bros Advisors GP Llc, Baker Brothers Life Sciences Lp, Felix Baker, Julian Baker bought a total of 114396 shares at an average price of $87.50. The insider spent $10,009,957.43 to acquire those shares.
What’s Happening: Kodiak Sciences, last week, reported a wider quarterly loss.
What Kodiak Sciences Does: Kodiak Sciences is a clinical-stage company. It is engaged in developing innovative therapeutics to treat the high prevalence of ophthalmic diseases.
B. Riley Financial
The Trade: B. Riley Financial, Inc. ( (NASDAQ: RILY) Chairman & Co-CEO Bryant R Riley bought a total of 135000 shares at an average price of $60.61. The insider spent $8,181,729.00 to acquire those shares.
What’s Happening: B. Riley Financial recently reported the promotion of Jimmy Baker to President of B. Riley Securities, Inc.
What B. Riley Financial Does: B. Riley Financial Inc is a diversified financial services company.
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