Although U.S. stocks closed higher on Friday, there were some notable insider trades.
When insiders buy stock, it signals their confidence in the company's prospects, or that they think the stock is a good deal. Either way, this shows that there is an opportunity to go long the stock. Insider purchases should not be taken as the sole indicator for making investment or trading decisions. At best, it can give you confidence in your purchasing decision.
Below are some notable recent insider purchases.For more information, please check Benzinga Insider Trading platform.
western midstream partner
- That deal: Western Midstream Partners, LP (NYSE:WES) President and CEO Michael Uhle Acquired a total of 5,000 shares Average price is $33.65. Acquiring these shares cost us approximately $168,250.
- what's happening: On February 29, Citigroup analyst Spiro Denis lowered his rating on Western Midstream from “buy” to “neutral” and raised his price target from $30 to $34.
- Western Midstream Partners activities: Western Midstream Partners LP is a U.S.-based company that owns, operates, acquires, and develops midstream energy assets.
sphere entertainment
- That deal: Sphere Entertainment Co., Ltd. (NYSE:SPHR) Director Christine A. Dolan bought a total of 76,139 shares at an average price of $40.73. Acquiring these shares cost approximately $3.1 million.
- what's happening: On February 5, Sphere Entertainment reported revenue of $314.2 million, up 97% year-over-year, beating consensus of $301.8 million.
- Sphere Entertainment's business activities: Sphere Entertainment Co is a live entertainment and media company. The company creates, writes, performs, produces and tours shows and events.
Don’t forget to check out our pre-market coverage here
Agree real estate
- That deal: Ugly Real Estate Co., Ltd. (NYSE:ADC) Director and Chairman of the Board Richard Agree Purchased a total of 16,000 shares The average price is $55.50. Acquiring these shares cost approximately $888,000.
- what's happening: On February 27th, Trust Securities analyst Ki Bin Kim agreed with a “buy” rating and lowered his price target from $70 to $68.
- What Agret Realty does: Agree Realty Corporation operates as a fully integrated real estate investment trust primarily focused on owning, acquiring, developing and managing net-leased commercial properties to industry-leading tenants.
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