Although US stocks traded higher on Friday, 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.
Texas Capital Bancshares
- The exchange: Texas Capital Bancshares, Inc. TCBI DirectorRobert Stallings acquired a total of 23,100 shares at an average price of $53.54. To acquire these shares, it cost approximately $1.24 million.
- What is happening: The company recently released lackluster quarterly results.
- What Texas Capital Bancshares does: Texas Capital Bancshares Inc is a secured lender, with the majority of loans held for investment purposes, excluding mortgages and other domestic lines of business.
SMART Global Portfolios
- The exchange: SMART Global Holdings, Inc. GHS President and CEO Mark Adams acquired a total of 10,000 shares at an average price of $18.10. To acquire these shares, it cost approximately 180.98 thousand dollars.
- What is happening: SMART Global recently reported Q3 EPS below expectations and sales guidance below estimates.
- What SMART Global Holdings does: SMART Global Holdings Inc is a designer and manufacturer of electronic products focused on the fields of memory technology and computing.
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Also check this: Nasdaq rises 150 points as Apple posts upbeat results
Noodles & Company
- The exchange: Noodles & Company NDLS Director Thomas Lynch purchased a total of 113,371 shares at an average price of $4.51. To acquire these shares, it cost approximately 511.46 thousand dollars.
- What is happening: The company recently released mixed quarterly results.
- What Noodles & Company does: Noodles & Co is a restaurant concept offering lunch and dinner in the fast casual segment of the restaurant industry.
- The exchange: Huntington Bancshares Incorporated HBAN Director Gary Torgow purchased a total of 19,382 shares at an average price of $12.90. The insider spent approximately $249.98 thousand to purchase these shares.
- What is happening: The company recently announced upbeat quarterly results.
- What Huntington Bancshares does: Huntington Bancshares is a regional bank holding company headquartered in Columbus, Ohio. The bank has a network of branches and ATMs in eight Midwestern states.