U.S. stocks showed a positive trend by closing higher on Wednesday, but that wasn’t the only noteworthy action in the market. Insider trading was in the spotlight and their buying decisions sent a strong signal.
Insiders buying shares usually indicates a positive outlook on the company’s future or a belief that the current stock price is undervalued. This can be seen as an opportunity to consider investing in these stocks. However, insider purchases should not be the sole factor when making investment decisions. At best, it can provide support to a buying decision.
Let’s take a closer look at a few significant insider trades that took place recently. For further transactions, take a look at Benzinga’s insider transactions platform.
RBB Bancorp
- The Trade: RBB Bancorp RBB Director James Kao acquired a total of 15,000 shares an average price of $16.87. This purchase cost approximately $253,100.
- What’s Happening: RBB Bancorp reported better-than-expected fourth-quarter results.
- What RBB Bancorp Does: RBB Bancorp operates as a bank holding company. It offers various banking products and services, including checking, savings, money market accounts, and certificates of deposits.
AXIS Capital Holdings
- The Trade: AXIS Capital Holdings Limited AXS Director Stanley A Galanski acquired a total of 7,000 shares at an average price of $58.45. This purchase cost around $409,150.
- What’s Happening: AXIS Capital posted upbeat fourth-quarter earnings.
- What AXIS Capital Holdings Does: AXIS Capital Holdings Ltd is a property and casualty insurance company that provides various products and services to clients and distribution partners.
Don’t forget to check out our premarket coverage here
Dakota Gold
- The Trade: Dakota Gold Corp. DC Director Stephen T. O’Rourke bought a total of 5,000 shares at an average price of $2.07. This purchase cost approximately $10,355.
- What’s Happening: The company’s stock lost around 8% over the past month.
- What Dakota Gold Does: Dakota Gold Corp is a gold exploration and development company with a specific focus on revitalizing the Homestake District in Lead, South Dakota.
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