Insiders Buy Around $17M Of 3 Stocks

Although the Dow Jones closed slightly higher on Friday, 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.

Enochian Biosciences

• The Trade: Enochian Biosciences, Inc. ENOB Director Rene Sindlev acquired a total of 253,493 shares at at an average price of $8.00. To acquire these shares, it cost around $2.03 million.
• What’s Happening: Enochian BioSciences, last month, named Dr. François Binette, Ph.D. as Executive Vice President for Research and Development.
• What Enochian Biosciences Does: Enochian BioSciences Inc is a biopharmaceutical company. It is engaged in identifying, developing, manufacturing, and commercializing gene therapies.

Avis Budget Group

• The Trade: Avis Budget Group, Inc. CAR Executive Chairman Bernardo Hees acquired a total of 26,000 shares at an average price of $189.90. To acquire these shares, it cost around $4.94 million.
• What’s Happening: Avis Budget Group recently posted better-than-expected sales results.
• What Avis Budget Group Does: Avis Budget Group Inc is a provider of automotive vehicle rental and car-sharing services. Its brands include Avis, Budget, and Zipcar.

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Also check this: Executives Buy Around $17M Of 5 Penny Stocks

Insight Enterprises

• The Trade: Insight Enterprises, Inc. NSIT 10% owner ValueAct Holdings GP LLC bought a total of 98,883 shares at an average price of $98.18. To acquire these shares, it cost around $9.71 million.
• What’s Happening: The company recently posted upbeat quarterly earnings.
• What Insight Enterprises Does: Insight Enterprises Inc is a Fortune 500 global IT provider primarily engaged in helping businesses of all sizes, large enterprises, governments, schools, and health care organizations.