5 Penny Stocks Insiders Are Buying: Performant Financial, Allied Esports Entertainment And More

European stocks recorded gains for a second consecutive session on Wednesday following a sharp plunge on Monday. Investors, meanwhile, focused on some notable insider trades.

When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

Performant Financial

• The Trade: Performant Financial Corporation PFMT 10% owner Phil Frohlich acquired a total of 551,306 shares at an average price of $1.97. To acquire these shares, it cost $1.09 million.
• What’s Happening: Performant Financial, last month, announced a $35 million debt refinancing.
• What Performant Financial Does: Performant Financial Corp provides technology-enabled recovery and related analytics services in the United States. The company provides its services on an outsourced basis where it handles many or all aspects of its clients' recovery processes.

ServiceSource International

• The Trade: ServiceSource International, Inc. SREV 10% owner Jonathan Brolin acquired a total of 18,045 shares at an average price of $0.99. The insider spent $17.83 thousand to buy those shares.
• What’s Happening: The company’s stock gained around 2% over the past month.
• What ServiceSource International Does: ServiceSource International Inc is a provider of customer and revenue lifecycle management solutions. The firm operates in a single segment which is focused on service offerings that integrate data, processes and cloud technologies.

Allied Esports Entertainment

• The Trade: Allied Esports Entertainment Inc. AESE 10% owner Roy Choi acquired a total of 500,888 shares at an average price of $1.79. To acquire these shares, it cost $898.64 thousand.
• What’s Happening: Allied Esports Entertainment recently announced engagement of investment banking firm Benchmark to provide financial advisory services.
• What Allied Esports Entertainment Does: AES is a global power company with businesses in 14 countries. It has a portfolio of more than 100 power plants and wind and solar farms.

Check out these stocks insiders are selling

BitNile Holdings

• The Trade: BitNile Holdings, Inc. NILE Executive Chairman Milton C. Ault III acquired a total of 60,000 shares at an average price of $0.79. The insider spent $47.42 thousand to buy those shares.
• What’s Happening: BitNile recently reported a partnership with Ed Carpenter Racing to sponsor No. 20 BitNile Chevrolet for 2022 NTT INDYCAR SERIES.
• What BitNile Does: BitNile Holdings Inc is engaged in providing Bitcoin mining, data center operations, and decentralized finance (DeFi) initiatives.

Parks! America

• The Trade: Parks! America, Inc. PRKA Director Charles Kohnen acquired a total of 83,333 shares at an average price of $0.57. The insider spent $47.5 thousand to buy those shares.
• What’s Happening: The company’s shares dropped 11% over the earlier month.
• What Parks! America Does: Parks! America Inc through its subsidiaries involved in the business of acquiring, developing and operating local and regional theme parks and attractions in the United States.