More than $24M Bet On PBF Energy? 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.

Domo

• The Trade: Domo, Inc. (NASDAQ:DOMO) Director Daniel David Daniel III acquired a total of 400,000 shares at  an average price of $6.79. To acquire these shares, it cost around $2.72 million.
• What's Happening: On June 20, JMP Securities analyst Patrick Walravens reiterated Domo with a Market Outperform and maintained a $16 price target.
• What Domo Does: Domo Inc provides a cloud-based platform that digitally connects all the data, systems and people in an organization, giving them access to real-time data and insights and allowing them to manage their business from their smartphones.

PBF Energy

• The Trade: PBF Energy Inc. (NYSE:PBF) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 565,500 shares at </em></a> an average price of $43.67. To acquire these shares, it cost around $24.7 million.
• What's Happening: PBF Energy is expected to release its earnings results for the second quarter on Thursday, August 1.
• 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.

Don’t forget to check out our premarket coverage here

Talos Energy

• The Trade: Talos Energy Inc. (NYSE:TALO) 10% owner Control Empresarial de Capitales S.A. de C.V. bought a total of 300,000 shares at an average price of $10.80. To acquire these shares, it cost around $3.24 million.
• What's Happening: On June 21, Benchmark analyst Subash Chandra reiterated Talos Energy with a Buy and maintained a $20 price target.
• What Talos Energy Does: Talos Energy Inc is an independent oil and gas company predominantly involved in offshore exploration and production.

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