$11M Bet On This Industrial Stock? Check Out These 3 Stocks Insiders Are Buying

Author: Avi Kapoor | February 29, 2024 08:12am

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

F.N.B. Corporation

• The Trade: F.N.B. Corporation (NYSE:FNB) Director William B Campbell acquired a total of 1,500 shares an average price of $13.52. To acquire these shares, it cost around $20,274.
• What’s Happening: On Feb. 13, F.N.B. declared a cash dividend of 12 cents per share on common stock.
• What F.N.B. Corporation Does: F N B Corp provides a full range of financial services, principally to consumers, corporations, governments and small- to medium-sized businesses.

Mercury Systems

• The Trade: Mercury Systems, Inc. (NASDAQ:MRCY) 10% owner Jana Partners Management, LP acquired a total of 377,913 shares at an average price of $29.26. To acquire these shares, it cost around $11.06 million.
• What’s Happening: On Feb. 6, Mercury Systems reported worse-than-expected second-quarter financial results.
• What Mercury Systems Does: Mercury Systems Inc is a commercial technology company serving the aerospace and defense industry.

Don’t forget to check out our premarket coverage here

Enphase Energy

• The Trade: Enphase Energy, Inc. (NASDAQ:ENPH) President and CEO Badrinarayanan Kothandaraman bought a total of 4,000 shares at an average price of $120.54. To acquire these shares, it cost around $482,154.
• What’s Happening: On Feb. 14, RBC Capital initiated coverage on the stock with an Outperform rating and $140 price target.
• What Enphase Energy Does: Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform.

 

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Posted In: ENPH FNB MRCY