Insiders Buying Steel Connect And 2 Other Stocks

Although US stocks closed mixed on Thursday, 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.

Steel Connect

• The Trade: Steel Connect, Inc. STCN 10% owner WF Asset Corp. acquired a total of 11,187 shares an average price of $8.57. To acquire these shares, it cost around $95,852.
• What’s Happening: Steel Connect posted a profit for the third quarter.
• What Steel Connect Does: Steel Connect Inc is a diversified holding company. The company's operating segment include Direct Marketing and Supply Chain.

Nuvectis Pharma

• The Trade: Nuvectis Pharma, Inc. NVCT 10% owner Charles Mosseri-Marlio acquired a total of 8,000 shares at an average price of $14.84. To acquire these shares, it cost around $118,720. The company’s Director, Chairman & CEO also bought the company’s shares.
• What’s Happening: Nuvectis Pharma recently announced the FDA clearance of NXP900 IND.
• What Nuvectis Pharma Does: Nuvectis Pharma Inc is a biopharmaceutical company. The company is engaged in the development of innovative precision medicines for the treatment of serious conditions of unmet medical needs in oncology.

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MillerKnoll

• The Trade: MillerKnoll, Inc. MLKN Director Michael A Volkema bought a total of 13,584 shares at an average price of $16.95. To acquire these shares, it cost around $230,246. The company’s other Directors also bought company’s shares.
• What’s Happening: MilleKnoll reported better-than-expected fourth-quarter financial results and issued guidance.
• What MillerKnoll Does: MillerKnoll Inc, formerly Herman Miller Inc researches, designs, manufactures, sells, and distributes interior furnishings across the globe.

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