Although U.S. stocks closed mixed on Tuesday, 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.
Ashford
- The Trade: Ashford Inc. (NYSE:AINC) CEO and Chairman of the Board Monty J Bennett acquired a total of 200,000 shares an average price of $4.91. To acquire these shares, it cost around $982,000.
- What’s Happening: On April 1, the company announced it approved a reverse stock split and delisting strategy.
- What Ashford Does: Ashford Inc is a provider of asset management and advisory services to other entities, within the hospitality industry.
Kingsway Financial Services
- The Trade: Kingsway Financial Services Inc. (NYSE:KFS) President and CEO John Taylor Maloney Fitzgerald acquired a total of 296 shares at an average price of $8.44. To acquire these shares, it cost around $2,498. The company’s CFO and EVP Kent A Hansen also purchased 185 shares.
- What’s Happening: On March 22, Kingsway Financial Services entered into a one year extension of its existing share repurchase program.
- What Kingsway Financial Services Does: Kingsway Financial Services Inc through subsidiaries operates in the extended warranty and business services industries in the United States.
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