Although U.S. stocks closed higher on Monday, 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.
Sunrise Realty Trust
- The Trade: Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Executive Chairman Leonard M Tannenbaum acquired a total of 118,163 shares at an average price of $12.44. To acquire these shares, it cost around $1.47 million.
- What's Happening: On Aug. 14, Sunrise Realty Trust posted second-quarter EPS of 22 cents on sales of $1.98 million.
- What Sunrise Realty Trust Does: Sunrise Realty Trust Inc is a real estate investment trust company.
Darling Ingredients
- The Trade: Darling Ingredients Inc. (NYSE:DAR) EVP Chief Admin Officer Patrick McNutt acquired a total of 1,300 shares at an average price of $39.85. To acquire these shares, it cost around $51,805.
- What's Happening: On July 31, Darling Ingredients reported a sustainable aviation fuel contract through Diamond Green Diesel Joint Venture.
- What Darling Ingredients Does: Darling Ingredients Inc develops and manufactures sustainable ingredients for customers in the pharmaceutical, food, pet food, fuel, and fertilizer industries.
Superior Group of Companies
- The Trade: Superior Group of Companies, Inc. (NASDAQ:SGC) CEO Michael Benstock bought a total of 10,000 shares at an average price of $13.45. To acquire these shares, it cost around $134,527.
- What's Happening: On Aug 12, Superior Group Of Companies disclosed a new $10 million stock repurchase plan.
- What Superior Group of Companies Does: Superior Group Of Companies Inc designs apparel products. The company's operating segment includes Branded Products; Healthcare Apparel and Contact Centers.
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