MSP Recovery And 3 Other Stocks Under $3 Insiders Are Buying

Author: Lisa Levin | October 27, 2023 06:43am

The Dow Jones closed lower by over 250 points on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

Real Good Food Company

• The Trade: The Real Good Food Company, Inc. (NASDAQ:RGF) 10% owner Philotimo Focused Growth Income Fund acquired a total of 110,000 shares an average price of $2.35. To acquire these shares, it cost around $258,500.
• What’s Happening: The Real Good Food Company recently priced public offering of 6,785,715 class A common stock at $2.10 per share.
• What Real Good Food Company Does: The Real Good Food Company Inc is an innovative, high-growth, branded, health- and wellness-focused frozen food company.

Glatfelter

• The Trade: Glatfelter Corporation (NYSE:GLT) 10% owner Duane Clint Carlson acquired a total of 150,000 shares at an average price of $1.56. To acquire these shares, it cost around $234,018.
• What’s Happening: Glatfelter entered into an agreement with Ekman & Co. to market Glatfelter's high quality, specialty Abaca pulp exclusively through Ekman's global sales agency platform.
• What Glatfelter Does: Glatfelter Corporation manufactures and sells a variety of paper and fiber products. The company operates through two segments: Composite Fibers and Airlaid Materials.

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Arcutis Biotherapeutics

• The Trade: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Patrick Heron acquired a total of 80,000 shares at an average price of $2.50. The insider spent $200,000 to buy those shares.
• What’s Happening: Arcutis Biotherapeutics announced the pricing of a $100 million public offering of 32.5 million common shares at $2.50 per share.
• What Arcutis Biotherapeutics Does: Arcutis Biotherapeutics Inc is a medical dermatology company. It is developing treatments for patients with immune-mediated dermatological diseases and conditions.

MSP Recovery

• The Trade: MSP Recovery, Inc. (NASDAQ:LIFW) CEO John H. Ruiz acquired a total of 467,290 shares at an average price of $1.07. The insider spent around $500,000 to buy those shares.
• What’s Happening: MSP Recovery announced a 1-for-25 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement.
• What MSP Recovery Does: MSP Recovery Inc is a healthcare recoveries and data analytics company. The business model includes two principal lines of business: Claims Recovery and Chase to Pay Services.

 

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Posted In: ARQT GLT LIFW RGF