$21M Bet On Comstock Resources? Check Out These 3 Stocks Insiders Are Buying
Although U.S. stocks closed higher on Friday, 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.
ZoomInfo Technologies The Trade: ZoomInfo Technologies Inc. ZI CEO Henry Schuck acquired a total of 1,500,000 shares at an average price of $8.49. To acquire these shares, it cost around $12.7 million. What's Happening: On Aug. 5, ZoomInfo reported worse-than-expected financial results for the second quarter and announced a management transition. What ZoomInfo Technologies Does: ZoomInfo Technologies Inc provides a go-to-market intelligence platform for sales and marketing teams. Benzinga Pro's newsfeed was used to track latest ZI news. Groupon The Trade: Groupon, Inc. GRPN Director Jason Harinstein acquired a total of 15,000 shares at an average price of $10.61. To acquire these shares, it cost around $159,150. What's Happening: On July 30, Groupon posted a loss for the second quarter. What Groupon Does: Groupon Inc acts as the middleman between consumers and merchants, offering a variety of products and services at discounts via its online store. Benzinga Pro's signals feature notified of a potential breakout in GRPN shares. Disney The Trade: The Walt Disney Company DIS Director Calvin McDonald bought a total of 11,756 shares at an average price of $85.06. To acquire these shares, it cost around $999,994. What's Happening: On Aug. 7, Walt Disney posted upbeat quarterly earnings. What Disney Does: Disney operates in three global business segments: entertainment, sports, and experiences. Entertainment and experiences both benefit from franchises and characters the firm has created over the course of a century. Benzinga Pro's charting tool helped identify the trend in DIS stock.
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