Although U.S. stocks closed mixed on Monday, 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.
ProFrac Holding
- The Trade: ProFrac Holding Corp. (NASDAQ:ACDC) 10% owner Dan H. Wilks acquired a total of 353,635 shares at an average price of $6.17. To acquire these shares, it cost around $2.18 million.
- What's Happening: On Aug. 8, ProFrac Holding posted downbeat quarterly sales.
- What ProFrac Holding Does: ProFrac Holding Corp is engaged in providing hydraulic fracturing, completion services, and other complementary products and services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.
Weyerhaeuser
- The Trade: Weyerhaeuser Company (NYSE:WY) James Calvin O’Rourke acquired a total of 7,800 shares at an average price of $32.01. To acquire these shares, it cost around $249,676.
- What's Happening: On July 25, Weyerhaeuser reported downbeat second-quarter sales.
- What Weyerhaeuser Does: Weyerhaeuser ranks among the world’s largest forest product companies.
Mercer International
- The Trade: Mercer International Inc. (NASDAQ:MERC) CEO and President Estrada Juan Carlos Bueno bought a total of 7,800 shares at an average price of $6.60. To acquire these shares, it cost around $51,480.
- What's Happening: On Aug. 8, Mercer Intl posted upbeat quarterly sales.
- What Mercer International Does: Mercer International Inc is a forest products company with two reportable operating segments in pulp and solid wood.
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