Although US stocks closed higher on Monday, there was some notable insider trading.
When insiders buy stock, it shows they have confidence in the company’s prospects or that they see the stock as a bargain. Either way, it signals an opportunity to go long the stock. Insider buying should not be taken as the sole indicator of an investment or trading decision. At best, it can convince a purchase decision.
Below is a look at some notable recent insider purchases. For more information, see Benzinga insider trading Platform.
FB Finance
- The trade: FB Financial Corporation FBK 10% owner James Ayers a total of 53,088 shares were acquired an average price of $37.25. The purchase of these shares cost around 1.98 million US dollars.
- What’s happening: The company recently released weak quarterly earnings.
- What FB Financial does: FB Financial Corp is a bank holding company. The Company, through its wholly owned banking subsidiary, provides commercial and retail banking services to clients in select markets in Tennessee, North Alabama and North Georgia.
Riley Exploration Perm
- The trade: Riley Exploration Permian, Inc. REPX 10% owner Balmon California Inc a total of 23,755 shares were acquired at an average price of $26.99. It cost around $641.25,000 to acquire these shares.
- What’s happening: Riley Permian recently increased its quarterly cash dividend to $0.34 per share from $0.31.
- What Riley Exploration Permian does: Riley Exploration Permian Inc is engaged in the exploration and production of oil and natural gas. Corporate operations are located in Kansas Properties, Tennessee Properties, among others
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Fifth Third Bancorp
- The trade: Fifth Third Bancorp FITB EVP and CFO James C. Leonard bought a total of 3,893 shares at an average price of $32.16. To purchase these…
