Despite a generally higher close for U.S. stocks at the latest session, there were a handful of intriguing insider trades.
When insiders are snapping up shares, it suggests their confidence in the company’s future or that they believe the stock is a steal. At the very least, this indicates an opportunity to go long on the stock. It’s important to note that insider purchases should only be one of the factors when making investment decisions. Essentially, it can bolster conviction about a buying call.
Here’s a breakdown of some recent attention-grabbing insider transactions. For a deeper dive, explore Benzinga’s insider transactions platform.
FB Financial
- The Scoop: FB Financial Corporation FBK 10% owner James Ayers snagged a total of 2,000 shares at an average price of $35.50. The acquisition set him back approximately $71,000.
- What’s the Word: Hovde Group analyst Brett Rabatin recently downgraded FB Financial from Outperform to Market Perform and slapped a $40 price target on it.
- FB Financial’s Scoop: FB Financial Corp is a bank holding company. The firm, via its wholly-owned bank subsidiary, delivers commercial and consumer banking services to clients in select markets in Tennessee, North Alabama, and North Georgia.
Mueller Industries
- The Scoop: Mueller Industries, Inc. MLI Director Charles Herzog Jr nabbed a total of 150 shares at an average price of $28.68. The procurement set him back roughly $4,303.
- What’s Cooking: Northcoast Research analyst Ryan Connors recently downgraded Mueller Industries from Buy to Neutral.
- Mueller Industries Does This: Mueller Industries Inc manufactures copper, brass, aluminum, and plastic products. The company operates across three business segments: piping systems, industrial metals, and climate.
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BancFirst
- The Scoop: BancFirst Corporation BANF Executive Vice President Darryl Schmidt snapped up a total of 249 shares at an average price of $92.60. Acquiring these shares set him back around $23,058.
- What’s the Word: BancFirst recently unveiled positive quarterly earnings.
- BancFirst Is All About: BancFirst Corp is involved in providing banking services.
William Penn Bancorporation
- The Scoop: William Penn Bancorporation WMPN Director Matthew Christopher Molden snatched up a total of 156 shares at an average price of $12.35. This insider splashed out approximately $1,927 to snag those shares.
- Latest Buzz: Piper Sandler analyst Justin Crowley recently maintained William Penn with an Overweight rating and bumped the price target from $13 to $14.
- William Penn Bancorporation Is All About: William Penn Bancorporation operates as an independent community financial services provider.
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