Although US stocks closed lower 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.
- The Trade: Freeport-McMoRan Inc. (NYSE:FCX) Director Ryan M. Lance acquired a total of 31,000 shares at an average price of $31.88. To acquire these shares, it cost around $988.31 thousand.
- What’s Happening: The company, last month, posted downbeat quarterly results.
- What Freeport-McMoRan Does: Freeport-McMoRan Inc is an international mining company. It operates geographically diverse assets with proven and probable mineral reserves of copper, gold and molybdenum.
- The Trade: V.F. Corporation (NYSE:VFC) Director Richard Carucci acquired a total of 10,000 shares at an average price of $41.44. To acquire these shares, it cost around $414.42 thousand.
- What’s Happening: Cowen & Co. recently downgraded the stock from Outperform to Market Perform and lowered its price target from $52 to $50.
- What V.F. Does: VF designs, produces, and distributes branded apparel and accessories. Its largest apparel categories include action sports, outdoor, and workwear.
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Keurig Dr Pepper
- The Trade: Keurig Dr Pepper Inc. (NASDAQ:KDP) Chief Supply Chain Officer Anthony Maurice Milikin bought a total of 12,979 shares at an average price of $38.79. To acquire these shares, it cost around $503.46 thousand.
- What’s Happening: Keurig Dr Pepper, last month, reported better-than-expected Q2 sales..
- What Keurig Dr Pepper Does: Keurig Dr Pepper, the product of a 2018 merger between Dr Pepper Snapple and Keurig Green Mountain, is the third-largest nonalcoholic beverage company in North America.