Although U.S. stocks closed higher on Tuesday, 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.
Barnes & Noble Education
- The Trade: Barnes & Noble Education, Inc. (NYSE:BNED) Director Eric Singer acquired a total of 18,000 shares at an average price of $8.15. To acquire these shares, it cost around $146,630.
- What's Happening: On July 12, Barnes & Noble Education filed prospectus for sale of up to 19.1 million shares of common stock by selling stockholders.
- What Barnes & Noble Education Does: Barnes & Noble Education Inc is an operator of bookstores in college and university campuses across the United States.
Culp
- The Trade: Culp, Inc. (NYSE:CULP) 10% owner 22NW GP, Inc. acquired a total of 22,978 shares at an average price of $5.12. To acquire these shares, it cost around $117,730.
- What's Happening: On June 27, Culp posted downbeat quarterly sales.
- What Culp Does: Culp Inc manufactures, sources, and markets mattress fabrics and sewn covers used for covering mattresses and box springs and upholstery fabrics including cut and sewn kits used in the production of upholstered furniture.
Zevra Therapeutics
- The Trade: Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Director Thomas Anderson bought a total of 10,000 shares at an average price of $6.81. To acquire these shares, it cost around $68,065.
- What's Happening: On July 9, HC Wainwright & Co. analyst Oren Livnat reiterated Zevra Therapeutics with a Buy and maintained a $15 price target.
- What Zevra Therapeutics Does: Zevra Therapeutics Inc is a rare disease company combining science, data, and patient needs to create transformational therapies for diseases with limited or no treatment options.
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