Over $20M Bet On This US Energy Giant? Check Out These 3 Stocks Insiders Are Buying

Author: Lisa Levin | August 04, 2023 07:36am

Although U.S. stocks closed lower on Thursday, 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.

Crocs

• The Trade: Crocs, Inc. (NASDAQ:CROX) Director Thomas Smach acquired a total of 10,000 shares an average price of $105.85. To acquire these shares, it cost around $1.06 million. The company’s other Director Douglas Treff also bought the company’s shares.
• What’s Happening: Crocs reported second-quarter FY23 sales growth of 11.2% year-on-year to $1.07 billion, beating the analyst consensus of $1.04 billion.
• What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children.

Exxon Mobil

• The Trade: Exxon Mobil Corporation (NYSE:XOM) Director Jeffrey W Ubben acquired a total of 192,000 shares at an average price of $106.44. To acquire these shares, it cost around $20.44 million.
• What’s Happening: Exxon Mobil reported second-quarter revenues of $82.91 billion, beating the consensus of $80.19 billion.
• What Exxon Mobil Does: ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, it produced 2.4 million barrels of liquids and 8.3 billion cubic feet of natural gas per day.

Don’t forget to check out our premarket coverage here

Donegal Group

• The Trade: Donegal Group Inc. (NASDAQ:DGICA) 10% owner Donegal Mutual Insurance Co bought a total of 18,426 shares at an average price of $14.81. To acquire these shares, it cost around $272,947.
• What’s Happening: Donegal posted better-than-expected quarterly sales.
• 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.

 

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Posted In: CROX DGICA XOM