Although U.S. stocks closed higher on Thursday, 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.
Middlefield Banc
- The Trade: Middlefield Banc Corp. (NASDAQ:MBCN) CEO Ronald Len. Zimmerly Jr acquired a total of 1,000 shares at an average price of $22.47. To acquire these shares, it cost around $22,470.
- What's Happening: On July 18, Middlefield Banc reported quarterly earnings of 52 cents per share which beat the analyst consensus estimate of 40 cents per share.
- What Middlefield Banc Does: Middlefield Banc Corp is a United States-based bank holding company.
Focus Universal
- The Trade: Focus Universal Inc. (NASDAQ:FCUV) Director Edward Shihai Lee acquired a total of 1,000,000 shares at an average price of $0.30. To acquire these shares, it cost around $300,000.
- What's Happening: On Sept. 16, Focus Universal announced a $1.2 million registered direct offering of 3.75 million shares at $0.32 per share.
- What Focus Universal Does: Focus Universal Inc develops and manufactures universal smart devices.
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