$7.6 Million Bet On GMS? 3 Stocks Insiders are Buying

Although the US stocks closed sharply 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.

Tricida

• The Trade: Tricida, Inc. TCDA 10% owner Nimish Shah acquired a total of 492,020 shares at an average price of $10.37. To acquire these shares, it cost around $5.1 million.
• What’s Happening: Tricida,, last month, said it is stopping its VALOR-CKD renal outcomes trial early for administrative reasons.
• What Tricida Does: Tricida Inc is a pharmaceutical company focused on the development and commercialization of its drug candidate, veverimer (TRC101), a non-absorbed, orally-administered polymer designed to treat metabolic acidosis by binding and removing acid from the gastrointestinal, or GI, tract.

GMS

• The Trade: GMS Inc. GMS 10% owner Christopher Shackelton acquired a total of 193,897 shares at an average price of $39.29. To acquire these shares, it cost around $7.62 million.
• What’s Happening: GMS recently posted upbeat quarterly results.
• What GMS Does: GMS Inc is a distributor of specialty building products including wallboard, suspended ceilings systems, or ceilings, steel framing, and other complementary building products.

Don’t forget to check out our premarket coverage here .

Also check this: U.S. Durable Goods Orders And Other Macro Issues For Monday

Plains All American Pipeline

• The Trade: Plains All American Pipeline, L.P. PAA Director Kevin S McCarthy bought a total of 200,000 shares at an average price of $9.81. To acquire these shares, it cost around $1.96 million.
• What’s Happening: Plains All American, last month, posted Q1 earnings of $0.11 per share.
• What Plains All American Pipeline Does: Plains All American provides transportation, storage, processing, fractionation, and marketing services for crude oil, refined products, natural gas liquids, liquefied petroleum gas, and related products.