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.

Delta Air Lines

The Trade: Delta Air Lines, Inc. DAL Director David S Taylor acquired a total of 5000 shares at an average price of $39.30. The insider spent $196,485.00 to buy those shares.

What’s Happening: Delta Air Lines, last month, reported a second-quarter operating revenue decline of 43% year-over-year (compared to Q2 2019) to $7.13 billion versus $6.2 billion consensus, and adjusted loss per share of $(1.07) beat $(1.40) consensus.

What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.

Sun Communities

The Trade: Sun Communities, Inc. SUI Chairman and CEO Gary A Shiffman acquired a total of 330574 shares at an average price of $194.20. To acquire these shares, it cost $45,624,182.80. The insider also sold a total of 44000 shares.

What’s Happening: Sun Communities recently reported quarterly earnings of $0.98 per share.

What Sun Communities Does: Sun Communities Inc is a real estate investment trust that acquires, operates, and develops manufactured housing and recreational vehicle communities throughout the United States.

CVS Health

The Trade: CVS Health Corporation CVS Director Edward J Ludwig bought a total of 3000 shares at an average price of $79.55. The insider spent $238,635.00 to acquire those shares.

What’s Happening: CVS Health said it is no longer offering Johnson & Johnson's COVID-19 vaccine in many of its retail locations, the company told CNBC on Wednesday.

What CVS Health Does: Following its acquisition of Aetna in late 2018, CVS Health now provides an even more integrated healthcare-services offering for its members.