Around $2.9M Bet On Unifi? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed higher on Wednesday, 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.

ASA Gold and Precious Metals

• The Trade: ASA Gold and Precious Metals Limited (NYSE:ASA) 10% owner Boaz Weinstein acquired a total of 3,297 shares an average price of $15.97. To acquire these shares, it cost around $52,653.
• What’s Happening: The company’s stock gained around 5% over the past month.
• What ASA Gold and Precious Metals Does: ASA Gold And Precious Metals Ltd is a closed-end, non-diversified investment company.

Seritage Growth Properties

• The Trade: Seritage Growth Properties (NYSE:SRG) 10% owner Yakira Capital Management Inc acquired a total of 5,490 shares at an average price of $23.84. To acquire these shares, it cost around $130,899.
• What’s Happening: Seritage Group Properties recently posted a narrower loss for the third quarter.
• What Seritage Growth Properties Does: Seritage Growth Properties is engaged in the real property business through its investment in its operating partnership, Seritage Growth Properties, L.P.

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Unifi

• The Trade: Unifi, Inc. (NYSE:UFI) 10% owner Kenneth Langone bought a total of 500,000 shares at an average price of $5.75. To acquire these shares, it cost around $2.88 million.
• What’s Happening: The company, last month, posted downbeat quarterly results.
• What Unifi Does: Unifi Inc is a multi-national company. It manufactures and sells innovative synthetic and recycled products made from polyester and nylon primarily to other yarn manufacturers and knitters and weavers that produce fabric for the apparel, hosiery, home furnishings, automotive, industrial and other end-use markets.

 

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