Over $2M Bet On This Tech Stock? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed mixed on Thursday, 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.

Reservoir Media

• The Trade: Reservoir Media, Inc. (NASDAQ:RSVR) 10% owner Wesbild Inc acquired a total of 350,000 shares at an average price of $8.01. To acquire these shares, it cost around $2.8 million.
• What's Happening: On May 30, Reservoir Media posted better-than-expected quarterly earnings.
• What Reservoir Media Does: Reservoir Media Inc is an independent music company.

Shift4 Payments

• The Trade: Shift4 Payments, Inc. (NYSE:FOUR) Chairman and CEO Jared Isaacman acquired a total of 29,669 shares at an average price of $69.23. To acquire these shares, it cost around $2.05 million.
• What's Happening: On May 24, Wedbush analyst Moshe Katri initiated coverage on Shift4 Payments with a Neutral rating and announced a price target of $75.
• What Shift4 Payments Does: Shift4 Payments Inc is provider of integrated payment processing and technology solutions.

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Beyond

• The Trade: Beyond, Inc. (NYSE:BYON) Director, Executive Chairman of Board Marcus Lemonis bought a total of 17,075 shares at an average price of $14.61. To acquire these shares, it cost around $249,466.
• What's Happening: On May 6, Beyond reported worse-than-expected first-quarter financial results.
• What Beyond Does: Beyond Inc is an online retailer that provides products and services through websites.

Hawkins

• The Trade: Hawkins, Inc. (NASDAQ:HWKN) Director James A Faulconbridge bought a total of 1,900 shares at an average price of $86.52. The insider spent around $164,396 to buy those shares.
• What's Happening: On June 3, Hawkins completed the acquisition of the assets of Intercoastal Trading, Inc. and its affiliated companies.
• What Hawkins Does: Hawkins Inc manufactures and sells a variety of chemicals and ingredients.

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