Notable Insider Buys Of The Past Week: Harley-Davidson, Texas Instruments, And More

Notable Insider Buys Of The Past Week: Harley-Davidson, Texas Instruments And More

Photo by Texas Instruments via Wikimedia

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 want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when there is uncertainty in the markets. Note that with earnings reporting season in full swing, buy windows for many insiders are closed.

Here are some of the most noteworthy insider purchases that were reported in the past week.

Outlook Therapeutics Inc (OTLK) had a 10% owner and a director both increase their stakes last week. They acquired 11.36 million shares altogether at a secondary offering price of $1 per share. The stock closed most recently at $2.18 per share.

A beneficial owner recently indirectly acquired around 4.22 million Vyne Therapeutics Inc (VYNE) shares at $2.37 apiece. That totaled about $10 million and boosted the owner's stake to over 27.09 million shares. The stock closed most recently at $2.75 per share, after popping 39% for the week.

A pair of 10% owners have picked up almost 363,900 shares altogether of Bridge Bancorp, Inc. (BDGE). That cost them more than $8.53 million, at prices ranging from $25.28 to $26.24 per share. Note that Bridge Bancorp completed its merger with Dime Community Bancshares (DCOM) early last week.

The CEO at Surgalign Holdings Inc (SRGA), another executive, and four directors all took advantage of a public offering. Altogether, they acquired almost 3.66 million shares at $1.50 apiece. That cost that them over $5.48 million. The stock was last seen trading at $2.67 a share.

MSC Industrial Direct Co Inc (MSM) saw a director recently acquire nearly 67,800 shares. At share prices that ranged from $77.72 to $78.26, the total for the purchase came to around $5.29 million. Shares ended this past week's trading at $85.64. An executive purchased almost 4,300 shares last week, as well.

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

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