$4.4M Bet On Howard Hughes? Check Out These 3 Stocks Insiders Are Buying

Author: Lisa Levin | April 27, 2023 09:00am

Although US stocks closed mixed on Wednesday, 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.

Howard Hughes

• The Trade: The Howard Hughes Corporation (NYSE:HHC) Director William Ackman acquired a total of 58,816 shares an average price of $74.74. To acquire these shares, it cost around $4.4 million.
• What’s Happening: Howard Hughes reported weaker-than-expected Q4 earnings.
• What Howard Hughes Does: The Howard Hughes Corp is a real estate company that develops master-planned communities (MPCs) and is involved in other strategic real estate development opportunities across the United States.

Northwest Bancshares

• The Trade: Northwest Bancshares, Inc. (NASDAQ:NWBI) President and CEO Louis J Torchio acquired a total of 4,395 shares at an average price of $11.32. To acquire these shares, it cost around $49.73 thousand.
• What’s Happening: Keefe, Bruyette & Woods recently maintained Northwest Bancshares with a Market Perform and lowered the price target from $14 to $12.
• What Northwest Bancshares Does: Northwest Bancshares Inc is a stockholding company for Northwest Bank. Northwest Bank is a stock savings bank and a community-oriented financial institution offering personal and banking business solutions, investment management, trust services and insurance products.

Don’t forget to check out our premarket coverage here

Associated Banc-Corp

• The Trade: Associated Banc-Corp (NYSE:ASB) Director Michael J Haddad bought a total of 5,750 shares at an average price of $17.35. To acquire these shares, it cost around $99.77 thousand.
• What’s Happening: Associated Banc posted upbeat quarterly earnings.
• What Associated Banc-Corp Does: Associated Banc-Corp is a bank holding company. The company through its subsidiaries provides a broad array of banking and nonbanking products and services to individuals and businesses.

 

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Posted In: ASB HHC NWBI