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3 Stocks Insiders Are Buying

Author: Lisa Levin | December 27, 2021 09:58am

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.

Synalloy

  • The Trade: Synalloy Corporation (NASDAQ:SYNL) 10% owner Ryan Levenson acquired a total of 219523 shares at an average price of $12.75. To acquire these shares, it cost $2,798,918.25.
  • What’s Happening: Synalloy, last month, reported a $10 million rights offering.
  • What Synalloy Does: Synalloy Corp is engaged in the chemical and metal industry. The group operates into two reportable segments namely the Metals Segment and the Specialty Chemicals Segment.

Rite Aid

  • The Trade: Rite Aid Corporation (NYSE:RAD) President and CEO Heyward Donigan acquired a total of 14350 shares at an average price of $13.93. To acquire these shares, it cost $199,960.08.
  • What’s Happening: Rite Aid recently reported Q3 FY22 adjusted EPS of $0.15, compared to $0.40 a year ago, but a turnaround from a loss of $(0.41) per share in Q2 FY22.
  • What Rite Aid Does: Rite Aid Corp is a large retail drugstore chain in the United States. The company reports via two segments: retail pharmacy and pharmacy services.

Planet Labs PBC

  • The Trade: Planet Labs PBC (NYSE:PL) Co-Founder and CEO William Marshall bought a total of 19230 shares at an average price of $6.47. To acquire these shares, it cost $124,445.02.
  • What’s Happening: Planet Labs recently issued Q4 sales guidance below estimates.
  • What Planet Labs PBC Does: Planet Labs PBC is an Earth imaging company. It provides daily satellite data that helps businesses, governments, researchers, and journalists understand the physical world and take action.

Posted In: PL RAD SYNL


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