Last Week's Notable Insider Buys: Avis, Biglari, And More

Person Holding Blue and Clear Ballpoint Pen

Image Source: Pexels

Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when there is uncertainty in the markets, as there was before and after the elections and as the pandemic worsens.

Though buy windows remain closed for some insiders during earnings-reporting season, plenty of others continued to purchase shares despite market volatility and economic uncertainty. Here are some of the most noteworthy insider purchases reported in the past week.

Four Organogenesis Holdings Inc. (ORGO) directors and two beneficial owners altogether purchased about 6.14 million shares at $3.25 and $5.00 apiece last week. That totaled around $20.00 million. Note that these purchases included a common public share offering at $3.25 apiece.

Multiplan Corp. (MPLN), a services provider to the health care industry, saw a director and an officer pick up less than 1.43 million shares altogether. At prices ranging from $6.88 to $7.60 per share, that totaled more than $10.10 million. That same director also bought 741,000 shares in the prior week.

The GreenSky (GSKY) CEO and chair, David Zalik, another director, and an executive altogether bought more than 2.23 million shares recently of this Atlanta-based tech company. At $3.40 to $4.10 per share, these transactions totaled less than $7.78 million. 

Two directors at Keros Therapeutics Inc. (KROS) each indirectly added nearly 60,000 shares of this clinical-stage biopharmaceutical company to their stakes. At a public offering price of $50.00 per share, that cost them $6.00 million altogether. Each stake has been approaching 2.29 million shares.

An Avis Budget Group Inc. (CAR) beneficial owner returned to the buy window last week. Almost 105,000 shares were scooped up at between $34.77 and $35.43 apiece, which cost that owner more than $3.68 million. That insider also bought almost 150,000 shares during the previous week.

1 2
View single page >> |

Disclosure: At the time of this writing, the author had no position in the mentioned equities.

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.