Insiders Buying FedEx And 3 Other Stocks

Author: Avi Kapoor | December 29, 2023 10:20am

Although U.S. stocks closed mostly higher 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.

AMREP

• The Trade: AMREP Corporation (NYSE:AXR) 10% owner Rainey Lancaster acquired a total of 3,704 shares an average price of $21.98. To acquire these shares, it cost around $81,406.
• What’s Happening: Amrep recently reported a decline in quarterly sales.
• What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.

FedEx

• The Trade: FedEx Corporation (NYSE:FDX) EVP, Chief Financial Officer John W Dietrich acquired a total of 1,000 shares at an average price of $252.02. To acquire these shares, it cost around $252,020.
• What’s Happening: FedEx entered into an accelerated share repurchase (ASR) agreement with Mizuho Markets Americas LLC (Mizuho) to repurchase $1.0 billion of its shares.
• What FedEx Does: FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider.

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Synchronoss Technologies

• The Trade: Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director Kevin Rendino bought a total of 6,730 shares at an average price of $5.70. To acquire these shares, it cost around $38,394.
• What’s Happening: Synchronoss regained compliance with Nasdaq minimum bid price requirement.
• What Synchronoss Technologies Does: Synchronoss Technologies Inc is a provider of cloud- and software-based activation solutions for mobile carriers, enterprises, retailers, and original equipment manufacturers.

Greif

• The Trade: Greif, Inc. (NYSE:GEF) EVP and CFO Lawrence A Hilsheimer bought a total of 1,510 shares at an average price of $67.65. The insider spent around $102,149 to buy those shares.
• What’s Happening: Grief recently posted upbeat earnings for the fourth quarter.
• What Greif Does: Greif Inc is a producer of industrial packaging products and services with manufacturing facilities located in many countries.

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Posted In: AXR FDX GEF SNCR