Over $14M Bet On This Energy Stock? Check Out These 3 Stocks Insiders Are Buying

Mar 18, 2024

Although U.S. stocks closed lower on Friday, 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.

Talos Energy

  • The Trade: Talos Energy Inc. (NYSE:TALO) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 1,114,567 shares an average price of $12.79. To acquire these shares, it cost around $14.26 million.
  • What’s Happening: On March 13, Talos Energy filed for shelf of up to 24.7 million shares common stock by selling stockholders.
  • What Talos Energy Does: Talos Energy Inc is an independent oil and gas company predominantly involved in offshore exploration and production.

Ball

  • The Trade: Ball Corporation (NYSE:BALL) President and CEO Daniel William Fisher acquired a total of 3,869 shares at an average price of $64.56. To acquire these shares, it cost around $249,767.
  • What’s Happening: On March 1, Wolfe Research analyst Chris Parkinson initiated coverage on Ball with a Peer Perform rating.
  • What Ball Does: Ball is the world’s largest metal can manufacturer with market share over 40% in its three main regions (North America, Europe, and South America).

Don’t forget to check out our premarket coverage here

Potbelly

  • The Trade: Potbelly Corporation (NASDAQ:PBPB) President and CEO Robert D. Wright bought a total of 1,750 shares at an average price of $11.62. To acquire these shares, it cost around $20,335.
  • What’s Happening: On March 7, Potbelly posted downbeat quarterly earnings.
  • What Potbelly Does: Potbelly Corp owns and franchises hundreds of limited-service restaurants specializing in sandwiches and salads, shakes.

 

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