Although US stocks closed higher on Tuesday, 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.
- The Trade: Tidewater Inc. (NYSE:TDW) Director Robert Robotti acquired a total of 27,000 shares an average price of $39.64. To acquire these shares, it cost around $1.07 million.
- What’s Happening: Tidewater announced an agreement to purchase 37 platform supply vessels from Solstad Offshore ASA for $577 million.
- What Tidewater Does: Tidewater Inc provides offshore service vessels and marine support services to the global offshore energy industry through the operation of a diversified fleet of marine service vessels.
New Mountain Finance
- The Trade: New Mountain Finance Corporation (NASDAQ:NMCF) Director Steven B Klinsky acquired a total of 100,000 shares at an average price of $11.74. To acquire these shares, it cost around $1.17 million.
- What’s Happening: New Mountain Finance posted downbeat quarterly sales.
- What New Mountain Finance Does: New Mountain Finance Corp is a closed-end, non-diversified management investment company.
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- The Trade: QCR Holdings, Inc. (NASDAQ:QCRH) Director, CEO, QCRH & CRBT Larry Helling bought a total of 1,000 shares at an average price of $45.00. To acquire these shares, it cost around $45 thousand.
- What’s Happening: QCR Holdings posted better-than-expected quarterly earnings.
- What QCR Holdings Does: QCR Holdings Inc is a multi-bank holding company. The bank operates through segments namely Commercial Banking, Wealth Management, and all other segments.
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