$2.5M Bet On Shift4 Payments? Check Out These 3 Stocks Insiders Are Buying

Author: Avi Kapoor | May 24, 2024 09:05am

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.

Citi Trends

The Trade: Citi Trends, Inc. (NASDAQ:CTRN) 10% owner Pleasant Lake Partners LLC acquired a total of 50,406 shares at an average price of $22.27. To acquire these shares, it cost around $1.12 million.
What's Happening: On March 19, Citi Trends reported worse-than-expected fourth-quarter financial results.
What Citi Trends Does: Citi Trends Inc is a retailer of urban fashion apparel and accessories in the United States.

Shift4 Payments

The Trade: Shift4 Payments, Inc. (NYSE:FOUR) Chairman and CEO Jared Isaacman acquired a total of 39,135 shares at an average price of $64.04. To acquire these shares, it cost around $2.51 million.
What's Happening: On May 9, Shift4 Payments reported first-quarter financial results and issued guidance.
What Shift4 Payments Does: Shift4 Payments Inc is provider of integrated payment processing and technology solutions.

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Team

The Trade: Team, Inc. (NYSE:TISI) 10% owner Corre Horizon II Fund, LP bought a total of 10,353 shares at an average price of $7.05. To acquire these shares, it cost around $73,036.
What's Happening: On May 14, Team posted a narrower adjusted loss for the first quarter.
What Team Does: Team Inc is a provider of specialty industrial services, including inspection, engineering assessment and mechanical repair and remediation required in maintaining high temperature and high-pressure piping systems and vessels that are utilized in refining, petrochemicals, and others.

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