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.

Limoneira

The Trade: Limoneira Company LMNR Director Jose de Jesus Loza acquired a total of 7530 shares at an average price of $15.10. The insider spent $113,731.30 to acquire those shares.

What’s Happening: Limoneira signed a Memorandum of Understanding with Wileman Bros. & Elliott Inc. to join hands to sell their combined citrus volumes under the One World of Citrus Alliance.

What Limoneira Does: Limoneira is an agribusiness company. The company's operating segments include Fresh Lemons; Lemon Packing; Avocados; Other Agribusiness and Corporate and Other.

Brightcove

The Trade: Brightcove Inc. BCOV 10% owner Edenbrook Capital Llc, Jonathan Brolin acquired a total of 31898 shares at an average price of $11.01. To acquire these shares, it cost $351,094.18.

What’s Happening: Bizzabo, last month, reported a partnership with Brightcove.

What Brightcove Does: Brightcove is a provider of cloud-based services for the video ecosystem.

GMS

The Trade: GMS Inc. GMS 10% owner Coliseum Capital Management Llc, Coliseum Capital Llc, Coliseum Capital Partners Lp, Coliseum Capital Coinvest Iii Lp, Adam Gray, Christopher Shackelton bought a total of 89247 shares at an average price of $43.12. To acquire these shares, it cost $3,848,330.64.

What’s Happening: GMS, earlier during the month, reported better-than-expected Q1 results.

What GMS Does: GMS is a distributor of specialty building products including wallboard, suspended ceilings systems, or ceilings, steel framing, and other complementary building products.