Around $2M Bet On Citi Trends? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed mixed 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.

Citi Trends

• The Trade: Citi Trends, Inc. (NASDAQ:CTRN) 10% owner Pleasant Lake Partners LLC acquired a total of 91,600 shares an average price of $21.48. To acquire these shares, it cost around $1.97 million.
• What's Happening: On March 19, Citi Trends reported worse-than-expected fourth-quarter financial results.
• What Citi Trends Does: Citi Trends Inc is a retailer of urban fashion apparel and accessories in the United States.

Liberty SiriusXM

• The Trade: The Liberty SiriusXM Group (NASDAQ:LSXMA) 10% owner Warren E Buffett acquired a total of 311,637 shares at an average price of $25.47. To acquire these shares, it cost around $7.94 million.
• What's Happening: On April 29, Seaport Global upgraded the stock from Neutral to Buy and announced a $36 price target.
• What Liberty SiriusXM Does: Liberty SiriusXM Group through its subsidiary holding is engaged in providing a subscription-based satellite radio service.

Don’t forget to check out our premarket coverage here

Mobileye Global

• The Trade: Mobileye Global Inc. (NASDAQ:MBLY) Director Patrick P Gelsinger bought a total of 3,611 shares at an average price of $27.81. To acquire these shares, it cost around $100,438.
• What's Happening: On April 25, Mobileye Global reported worse-than-expected first-quarter adjusted EPS results..
• What Mobileye Global Does: Mobileye Global Inc engages in the development and deployment of ADAS and autonomous driving technologies and solutions.

Read More: Investor Optimism Improves Slightly Following Fed Decision