$1M Bet On This Financial Services Stock? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed higher 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.

Prospect Capital

• The Trade: Prospect Capital Corporation (NASDAQ:PSEC) CEO John F Barry acquired a total of 166,160 shares an average price of $5.99. To acquire these shares, it cost around $1 million.
• What’s Happening: Prospect Capital posted better-than-expected fourth-quarter results.
• What Prospect Capital Does: Prospect Capital Corp is a closed-end investment company based in the United States. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

Applied Optoelectronics

• The Trade: Applied Optoelectronics, Inc. (NASDAQ:AAOI) President and CEO Chih-Hsiang (Thompson) Lin acquired a total of 15,000 shares at an average price of $9.79. To acquire these shares, it cost around $146,901.
• What’s Happening: Applied Optoelectronics reported better-than-expected second-quarter adjusted EPS results.
• What Applied Optoelectronics Does: Applied Optoelectronics Inc is a provider of fiber-optic networking products for the Internet data center, cable television, telecommunications and fiber-to-the-home end markets.

Don’t forget to check out our premarket coverage here

Eastern Company

• The Trade: The Eastern Company (NASDAQ:EML) CEO Mark Anthony Hernandez bought a total of 1,228 shares at an average price of $18.52. To acquire these shares, it cost around $22,744.
• What’s Happening: Eastern Co posted a decline in quarterly EPS.
• What Eastern Company Does: The Eastern Co manages industrial businesses that design, manufacture and sell engineered solutions to industrial markets.

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