Although US stocks closed higher on Thursday, 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.
DISH network
- The trade: DISH Network Corporation COURT Director James Defranco acquired a total of 110,000 shares an average price of $16.73. The purchase of these shares cost around 1.84 million US dollars.
- What’s happening: DISH Network last month reported a 6.2% year-over-year decline in Q2 FY22 revenue to $4.21 billion.
- What DISH Network does: Since its inception in the 1980s, Dish Network has focused primarily on the satellite television business, leveraging technological advances to expand its reach.
CNA Financial
- The trade: CNA Financial Corp CNA 10% owner Loews Corp a total of 144,297 shares were acquired at an average price of $39.81. The purchase of these shares cost around 5.74 million US dollars.
- What’s happening: CNA Financial reported worse than expected Q2 EPS results last month.
- What CNA Financial does: CNA Financial Corporation (CNAF) is an insurance holding company that provides commercial property and casualty insurance.
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Hanesbrands
- The trade: Hanesbrands Inc. HBI Managing Director Stephen Bratspies bought a total of 30,000 shares at an average price of $8.65. Acquisition of these shares cost about 259.5 thousand US dollars.
- What’s happening: Hanesbrands last month reported worse than expected Q2 results and issued soft Q3 guidance.
- What Hanesbrands does:…
