As U.S. stocks closed higher on Thursday, several noteworthy insider trades caught investors’ attention.
Insider purchases are seen as a positive vote of confidence by company insiders in the company’s future prospects or an indication of undervalued stocks. While this alone should not be the sole determinant for making investment decisions, it can provide some conviction for those looking to go long on a stock.
Here are three recent insider purchases worth considering:
Howard Hughes Holdings Inc (HHC)
- The Trade: Director William Ackman acquired a total of 98,826 shares of Howard Hughes at an average price of $73.84, spending roughly $7.3 million.
- What Happened: Howard Hughes reported a wider-than-expected second-quarter loss.
- About Howard Hughes Holdings: Howard Hughes Holdings Inc is a real estate company that owns, manages, and develops commercial, residential, and mixed-use real estate throughout the USA.
MasterCraft Boat Holdings, Inc. (MCFT)
- The Trade: 10% owner Adam Gray acquired a total of 279,437 shares of MasterCraft Boat at an average price of $21.68, amounting to around $6.06 million.
- What Happened: MasterCraft Boat reported a fourth-quarter FY23 sales decline of 15.5% year-on-year, surpassing analyst expectations.
- About MasterCraft Boat Holdings: MasterCraft Boat Holdings Inc is a company that designs, manufactures, and markets performance sport boats and outboard boats in the United States, operating within three brand-specific segments.
Explore our premarket coverage here.
Southwest Gas Holdings, Inc. (SWX)
- The Trade: 10% owner Icahn Partners Master Fund LP acquired a total of 5,936 shares of Southwest Gas at an average price of $61.98, resulting in an investment of approximately $367,941.
- What Happened: Southwest Gas reported better-than-expected quarterly results.
- About Southwest Gas Holdings: Southwest Gas Holdings Inc is a utility company primarily engaged in the purchasing, distributing, and transporting of natural gas in the American Southwest.
Check out our article on the top utility stocks you don’t want to miss out on this quarter.
