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Insiders Put Skin in the Game: Big Money Moves in the Market

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Insiders Put Skin in the Game: Big Money Moves in the Market

Wednesday saw U.S. stocks closing higher, with some noteworthy insider trades catching the eye of investors.

Insider purchases are an indicator of confidence in a company’s future or a belief in the stock’s value. At the very least, it ignites a sense of conviction, but isn’t the sole factor determining investment decisions.

Here’s a rundown of recent significant insider purchases, including the following:

ASA Gold and Precious Metals

  • The Trade: ASA Gold and Precious Metals Limited ASA 10% owner Boaz Weinstein acquired a total of 3,297 shares at an average price of $15.97, totaling $52,653.
  • What’s Happening: The company’s stock gained around 5% over the past month.
  • What ASA Gold and Precious Metals Does: ASA Gold And Precious Metals Ltd is a closed-end, non-diversified investment company.

Seritage Growth Properties

  • The Trade: Seritage Growth Properties SRG 10% owner Yakira Capital Management Inc acquired a total of 5,490 shares at an average price of $23.84, totaling $130,899.
  • What’s Happening: Seritage Group Properties recently posted a narrower loss for the third quarter.
  • What Seritage Growth Properties Does: Seritage Growth Properties is engaged in the real property business through its investment in its operating partnership, Seritage Growth Properties, L.P.

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Unifi

  • The Trade: Unifi, Inc. UFI 10% owner Kenneth Langone bought a total of 500,000 shares at an average price of $5.75, totaling $2.88 million.
  • What’s Happening: The company, last month, posted downbeat quarterly results.
  • What Unifi Does: Unifi Inc is a multi-national company. It manufactures and sells innovative synthetic and recycled products made from polyester and nylon primarily to other yarn manufacturers and knitters and weavers that produce fabric for the apparel, hosiery, home furnishings, automotive, industrial and other end-use markets.

 

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