Although U.S. stocks closed higher on Friday, 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 20,000 shares at an average price of $16.63. To acquire these shares, it cost around $332,600.
- 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.
Inhibrx Biosciences
- The Trade: Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Kimberly Manhard acquired a total of 10,000 shares at an average price of $13.98. To acquire these shares, it cost around $139,800.
- What’s Happening: On Aug. 13, Inhibrx Biosciences posted second-quarter EPS of $125.48.
- What Inhibrx Biosciences Does: Inhibrx Biosciences Inc is a clinical-stage biopharmaceutical company with a pipeline of novel biologic therapeutic candidates, developed using its proprietary modular protein engineering platforms.
Franklin Resources
- The Trade: Franklin Resources, Inc (NYSE:BEN) 10% owner Charles B Johnson bought a total of 100,000 shares at an average price of $19.84. To acquire these shares, it cost around $1.98 million. The company’s President and CEO also bought 12,700 shares.
- What’s Happening: On Aug. 27, Barclays analyst Benjamin Budish initiated coverage on Franklin Resources with an Underweight rating and announced a price target of $20.
- What Franklin Resources Does: Franklin Resources provides investment services for individual and institutional investors.
Universal Display
- The Trade: Universal Display Corporation (NASDAQ:OLED) Lawrence Lacerte bought a total of 1,000 shares at an average price of $187.99. The insider spent around $187,990 to buy those shares.
- What’s Happening: On Aug. 1, Universal Display posted worse-than-expected second-quarter financial results..
- What Universal Display Does: Universal Display Corp researches, develops, and manufactures organic light-emitting diode, or OLED, technologies for use in displays for mobile phones, tablets, televisions, wearables, personal computers, automotive interiors, and the solid-state lighting market.
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