3 Stocks Insiders Are Buying

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.

CarGurus

The Trade: CarGurus, Inc. CARG Executive Chairman Langley Steinert acquired a total of 1306098 shares . The insider also sold a total of 31098 shares at an average price of $28.97.

What’s Happening: CarGurus is expected to release financial results for the second quarter on August 5, 2021. The company’s shares gained over 11% during the previous month.

What CarGurus Does: CarGurus Inc is a company that acts as an online automotive marketplace connecting buyers and sellers of new and used cars.

Cintas

The Trade: Cintas Corporation CTAS Senior Vice President, Secretary and General Counsel Thomas E Frooman acquired a total of 25507 shares at an average price of $148.16. To acquire these shares, it cost $3,779,203.93. The insider also disposed a total of 16904 shares.

What’s Happening: Cintas recently reported a 26.7% increase in quarterly dividend and also announced a new $1.5 billion stock buyback authorization.

What Cintas Does: Cintas Corporation, headquartered in Cincinnati, Ohio, provides corporate identity uniforms and related business services.

Darden Restaurants

The Trade: Darden Restaurants, Inc. DRI Chairman & CEO Lee, Eugene I. Jr. bought a total of 59925 shares at an average price of $59.68. The insider spent $1,835,040.64 to acquire those shares. The insider also sold a total of 42230 shares.

What’s Happening: Darden shares have jumped around 25% since the start of the year.

What Darden Restaurants Does: Darden Restaurants is the largest restaurant operator in the U.S. casual and fine dining markets, with consolidated revenue of $7.2 billion in fiscal 2021 resulting in 3.8% market share.