$2M Bet On This Industrial Stock? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed mixed 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.

Compass Diversified

• The Trade: Compass Diversified (NYSE:CODI) Elias Sabo acquired a total of 90,000 shares an average price of $22.62. To acquire these shares, it cost around $2.04 million.
• What’s Happening: Compass Diversified announced a $380 million deal with The Honey Pot Co..
• What Compass Diversified Does: Compass Diversified, based in Westport, Connecticut, is a private equity firm specializing in add on acquisitions, buyouts, industry consolidation, recapitalization, late stage and middle market investments.

NBT Bancorp

• The Trade: NBT Bancorp Inc. (NASDAQ:NBTB) EVP & Chief Financial Officer Scott A. Kingsley acquired a total of 1,000 shares at an average price of $36.80. To acquire these shares, it cost around $36,800.
• What’s Happening: NBT Bancorp posted downbeat quarterly earnings.
• What NBT Bancorp Does: NBT Bancorp Inc is a financial holding company that operates through its subsidiaries.

Don’t forget to check out our premarket coverage here

PBF Energy

• The Trade: PBF Energy Inc. (NYSE:PBF) 10% owner Control Empresarial de Capitales S.A. de C.V. bought a total of 12,200 shares at an average price of $43.86. To acquire these shares, it cost around $535,133.
• What’s Happening: Piper Sandler analyst Ryan Todd recently downgraded PBF Energy from Overweight to Neutral and lowers the price target from $65 to $50.
• What PBF Energy Does: PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.

 

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