Editorial StaffWhen 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.
The Trade: Krispy Kreme, Inc. (NASDAQ: DNUT) Director Olivier Goudet acquired a total of 60000 shares at an average price of $13.21. The insider spent $792,660.00 to acquire those share.
What’s Happening: Krispy Kreme, last week, reported second-quarter FY21 sales growth of 42.6% year-on-year, to $349.19 million, beating the consensus of $333.36 million.
What Krispy Kreme Does: Krispy Kreme Inc is a sweet treat brand. It is an omnichannel business operating through a network of doughnut shops, partnerships with leading retailers, and a growing e-Commerce and delivery business.
Six Flags Entertainment
The Trade: Six Flags Entertainment Corporation (NYSE: SIX) Director Arik W Ruchim acquired a total of 100000 shares at an average price of $38.07. To acquire these shares, it cost $3,806,787.50.
What’s Happening: The company, last month, reported better-than-expected second-quarter results.
What Six Flags Entertainment Does: Six Flags Entertainment Corp owns and operates theme parks worldwide. It operates around 26 theme parks and waterparks, 23 are located in the United States, two are located in Mexico and one is located in Montreal, Canada.
Biodesix
The Trade: Biodesix, Inc. (NASDAQ: BDSX) Director Jack Schuler bought a total of 50000 shares at an average price of $7.69. The insider spent $384,440.00 to acquire those shares.
What’s Happening: Biodesix recently reported worse-than-expected Q2 earnings.
What Biodesix Does: Biodesix is a data-driven diagnostic solutions company. Its artificial intelligence-based platform helps to discover, develop, and commercialize solutions for clinical unmet needs, with a focus on lung disease.
Energy Transfer
The Trade: Energy Transfer LP (NYSE: ET) Director Ray Washburne acquired a total of 100000 shares at an average price of $8.90. To acquire these shares, it cost $889,900.00.
What’s Happening: Energy Transfer recently reported downbeat results for its second quarter.
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.
Source: Yahoo Finance
