Over $2M Bet On This Financial Services Stock? Check Out These 3 Stocks Insiders Are Buying

Author: Lisa Levin | June 20, 2023 07:01am

Although US stocks closed 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.

Donegal Group

• The Trade: Donegal Group Inc. (NASDAQ:DGICA) 10% owner Donegal Mutual Insurance Co acquired a total of 146,427 shares an average price of $15.57. To acquire these shares, it cost around $2.28 million.
• What’s Happening: Donegal posted downbeat quarterly earnings.
• What Donegal Group Does: Donegal Group Inc is an insurance holding company that offers personal and commercial lines of property and casualty insurance to businesses and individuals.

Nuvectis Pharma

• The Trade: Nuvectis Pharma, Inc. (NASDAQ:NVCT) 10% owner Charles Mosseri-Marlio acquired a total of 32,124 shares at an average price of $17.71. To acquire these shares, it cost around $568.85 thousand.
• What’s Happening: Nuvectis Pharma recently announced FDA clearance of NXP900 IND.
• What Nuvectis Pharma Does: Nuvectis Pharma Inc is a biopharmaceutical company. The company is engaged in the development of innovative precision medicines for the treatment of serious conditions of unmet medical needs in oncology.

Don’t forget to check out our premarket coverage here

Oil-Dri Corporation of America

• The Trade: Oil-Dri Corporation of America (NYSE:ODC) Director Allan Selig bought a total of 1,000 shares at an average price of $50.55. To acquire these shares, it cost around $50.55 thousand.
• What’s Happening: Oil-Dri Corp of America posted an increase in third-quarter sales.
• What Oil-Dri Corporation of America Does: Oil-Dri Corp of America develops, manufactures, and markets sorbent products made primarily from clay.

 

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Posted In: DGICA NVCT ODC