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Insiders Show Confidence by Buying Stocks Insiders Show Confidence by Buying Stocks

U.S. stocks closed mixed on Monday; however, there were a few notable insider trades.


Insiders purchasing shares signifies their confidence in the company’s prospects or that they view the stock as a bargain. This signals an opportunity to go long on the stock. Insider purchases, while not the sole indicator for making investment decisions, can lend conviction to a buying decision.


Here is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform.


Triumph Group


  • The Trade: Triumph Group, Inc. TGI Director Neal J Keating acquired a total of 7,200 shares at an average price of $14.53, totaling around $104,616.00.
  • What’s Happening: Triumph reported below-consensus third-quarter results and cut the FY24 outlook.
  • What Triumph Group Does: Triumph Group Inc designs and manufactures a broad portfolio of aerostructures, aircraft components, and systems for the aviation industry.


RXO


  • The Trade: RXO, Inc RXO 10% owner Farhad Nanji acquired a total of 1,832,906 shares at an average price of $20.67, amounting to a cost of around $37,879,452.
  • What’s Happening: RXO reported worse-than-expected fourth-quarter revenue results.
  • What RXO Does: RXO Inc is a brokered transportation platform defined by cutting-edge technology and a nimble, asset-light business model, with the largest component being core truck brokerage business.


Rockwell Automation


  • The Trade: Rockwell Automation, Inc. ROK President and CEO Blake D. Moret bought a total of 3,500 shares at an average price of $283.65, amounting to a cost of around $992,757.
  • What’s Happening: Rockwell Automation reported worse-than-expected first-quarter results.
  • What Rockwell Automation Does: Rockwell Automation is a pure-play automation competitor that is the successor entity to Rockwell International, which spun off its former Rockwell Collins avionics segment in 2001.
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