$8.5 Million Bet On This Financial Services Stock? 4 Stocks Insiders Are Buying

Although US 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.

Frazier Lifesciences Acquisition

• The Trade: Frazier Lifesciences Acquisition Corporation (NASDAQ:FLAC) 10% owner Sharon Rose Shabet acquired a total of 847,062 shares an average price of $10.08. To acquire these shares, it cost around $8.54 million.
• What’s Happening: The company’s stock gained around 2% over the past six months.
• What Frazier Lifesciences Acquisition Does: Frazier Lifesciences Acquisition Corp is a blank check company.

Manitowoc Company

• The Trade: The Manitowoc Company, Inc. (NYSE:MTW) Director Charles John Pfeifer acquired a total of 2,573.02 shares at at an average price of $9.23. To acquire these shares, it cost around $23.75 thousand.
• What’s Happening: The company is expected to release quarterly earnings after the closing bell today.
• What Manitowoc Does: Manitowoc Co Inc provides engineered lifting solutions. It designs and manufactures mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, and boom trucks.

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Vertiv Holdings

• The Trade: Vertiv Holdings Co (NYSE:VRT) Director Joseph Deangelo bought a total of 71,600 shares at an average price of $13.99. To acquire these shares, it cost around $1 million.
• What’s Happening: Vertiv Holdings reaffirmed Q4 FY22 and FY23 guidance.
• What Vertiv Holdings Does: Vertiv Holdings Co brings together hardware, software, analytics and ongoing services to ensure its customers' vital applications run continuously, perform optimally and grow with their business needs.

Sealed Air

• The Trade: Sealed Air Corporation (NYSE:SEE) Director Zubaid Ahmad bought a total 1,200 shares at an average price of $42.12. The insider spent around $50.54 thousand to buy those shares.
• What’s Happening: Sealed Air recently announced it will acquire Liquibox for $1.15 billion.
• What Sealed Air Does: Sealed Air is organized via two reporting segments. Food care includes food packaging products like Cryovac, Darfresh, and OptiDure aimed primarily at meats. Product care includes Sealed Air's Bubble Wrap, Instapak, Jiffy mailers, and shrink film packaging systems that cater to industrial and e-commerce applications.