Last Week's Notable Insider Buys: Beacon Roofing Supply, Cricut, Crown Castle, And More

Last Week's Notable Insider Buys: Beacon Roofing Supply, Cricut, Crown Castle And More

Insider buying can be an encouraging signal for potential investors, especially when markets are near all-time highs. A couple of infrastructure-related companies attracted some notable insider buying last week. Beneficial owners were in the spotlight again, as earnings season means buy windows are close for many insiders.

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 or the markets are near all-time highs.

Note that with earnings-reporting season in full swing, many insiders are prohibited from buying or selling shares. Here are a few of the most noteworthy insider purchases that were reported in the past week.


A beneficial owner has built a more than 25% stake in Cricut Inc (CRCT), a crafting technologies company. About 804,100 shares were indirectly added in the past week at prices ranging from $32.77 to $34.98 apiece, costing the owner around $27.16 million. Note that the owner has been buying shares since late May.

Cricut, which has been public since March, is expected to share its latest quarterly results on Aug. 12. The share price declined more than 9% in the past week to close at $34.13 on Friday, within the owner's latest purchase price range. The stock is up more than 87% since its initial public offering. It had just a $34.00 consensus price target on last look.

Beacon Roofing Supply

Late last week, a beneficial owner of Beacon Roofing Supply, Inc. (BECN) added to its stake ahead of the upcoming earnings report. At about $55.53 apiece, the more than 108,000 shares indirectly purchased totaled nearly $6 million. This purchase increased the owner's stake to more than 14.42 million shares. The company's float is about 55.10 million shares.

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

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