Although US stocks closed lower on Monday, there was some notable insider trading.
When insiders buy stock, it shows they have confidence in the company’s prospects or that they see the stock as a bargain. Either way, it signals an opportunity to go long the stock. Insider buying should not be taken as the sole indicator of an investment or trading decision. At best, it can convince a purchase decision.
Below is a look at some notable recent insider purchases. For more information, see Benzinga insider trading Platform.
Mobileye Global
- The trade: Mobileye Global Inc. MBLY CEO and President Amnon Shashua a total of 476,191 shares were acquired an average price of $21.00. The acquisition of these shares cost around 10 million US dollars.
- What’s happening: Mobileye recently priced 41 million shares at $21 per share to raise $861 million after the shares were marketed at $18-$20.
- What Mobileye Global does: Mobileye Global Inc is engaged in the development and delivery of ADAS and autonomous driving technologies and solutions.
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- The trade: Allegion plc EVERYONE President and CEO John Stone acquired a total of 12,500 shares at an average price of $104.45. The purchase of these shares cost around 1.31 million US dollars.
- What’s happening: The company recently released positive quarterly results.
- What Allegion does: Allegion is a global security products company with a portfolio of leading brands such as Schlage, von Duprin and LCN.
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TriMas
- The trade: TriMas Corporation TRS President and CEO Thomas Amato bought a total of 5,000 shares at an average price of $22.37. It cost around $111.85,000 to acquire these shares.
- What’s happening: TriMas recently reported worse than expected third quarter adjusted EPS and revenue results.
- What TriMas does: TriMas Corp is a United States-based company that…
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