Although US stocks closed higher on Tuesday, there were a few notable insider trades.
When insiders buy stocks, it indicates their confidence in the prospects of the company or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the title. Insider buying should not be considered the sole indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is an overview of some recent notable insider buys. To find out more, see Benzinga Insider Trading Platform.
- The exchange: The Boeing Company BA President and CEO David Calhoun acquired a total of 25,000 shares an average price of $158.88. To acquire these shares, it cost about $3.97 million.
- What is happening: Redburn Partners recently launched a hedge on Boeing with a neutral rating.
- What the Boeing Company does: Boeing is a major aerospace and defense company. It operates in four segments: commercial aircraft; defence, space & security; global services; and the capital of Boeing.
- The exchange: CME Group Inc. CME DirectorWilliam R Shepard acquired a total of 48,705.8 shares during at an average price of $170.06. To acquire these shares, it cost approximately $8.28 million.
- What is happening: CME Group recently reported average daily volume growth of 11% in October.
- What CME Group does: Based in Chicago, CME Group operates exchanges giving investors, suppliers and businesses the ability to trade futures and derivatives based on interest rates, equity indices, foreign currencies, energy , metals and raw materials.
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- The exchange: LP Energy Transfer HEY Executive Chairman Kelcy Warren purchased a total of 1,200,000 shares at an average price of $12.35. To acquire these shares, it cost approximately $14.82 million.
- What is happening: The company recently reported lackluster third quarter results.
- What energy transfer does: Energy Transfer has an extensive platform of crude oil, natural gas and natural gas liquids assets, primarily in Texas and the Midcontinent region of the Americas.
- The exchange: Barnes Group Inc. B President and CEO Thomas J Hook purchased a total of 35,000 shares at an average price of $38.09. The insider spent approximately $1.33 million to purchase these shares.
- What is happening: Barnes recently posted pessimistic quarterly sales.
- What Barnes Group does: Barnes Group Inc is a United States-based industrial and aerospace manufacturer and service provider. The Company operates through two segments: industrial and aerospace.