$4.7M Bet On ModivCare? Check Out These 3 Stocks Insiders Are Buying

Author: Lisa Levin | May 15, 2023 09:01am

Although US stocks closed slightly lower on Friday, 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.

ModivCare

• The Trade: ModivCare Inc. (NASDAQ:MODV) Director Adam Gray acquired a total 85,088 shares an average price of $54.89. To acquire these shares, it cost around $4.67 million.
• What’s Happening: ModivCare posted weaker-than-expected quarterly earnings.
• What ModivCare Does: ModivCare Inc is a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions for payors and their members.

American Assets Trust

• The Trade: American Assets Trust, Inc. (NYSE:AAT) Chairman and CEO Ernest Rady acquired a total of 147,540 shares at an average price of $18.79. To acquire these shares, it cost around $2.77 million.
• What’s Happening: American Assets Trust posted upbeat quarterly sales.
• What American Assets Trust Does: American Assets Trust Inc is a self-administered real estate investment trust based in the United States.

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Tyson Foods

• The Trade: Tyson Foods, Inc. (NYSE:TSN) EVP & Chief People Officer Johanna Soderstrom bought a total of 5,000 shares at an average price of $49.22. To acquire these shares, it cost around $246.11 thousand. The company’s President and CEO also purchased 10,350 shares of the company.
• What’s Happening: Tyson Foods reported a loss for the second quarter and cut its FY23 financial outlook.
• What Tyson Foods Does: Tyson Foods is the largest U.S. producer of processed chicken and beef. It's also a large producer of processed pork and protein-based products under the brands Jimmy Dean, Hillshire Farm, Ball Park, Sara Lee, Aidells, State Fair, and Raised & Rooted, to name a few.

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Posted In: AAT MODV TSN