$15.3 Million Bet On Dave? 3 Stocks Insiders Are Buying

Although US stocks closed lower 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.

Dave

• The Trade: Dave Inc. DAVE CEO Jason Wilk acquired a total of 1,532,232 shares an average price of $10.01. To acquire these shares, it cost around $15.33 million.
• What’s Happening: Dave, during August, reported worse-than-expected Q2 sales results.
• What Dave Does: Dave Inc is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit, and finding side gigs.

United Natural Foods

• The Trade: United Natural Foods, Inc. UNFI CEO Alexander Douglas Jr acquired a total of 2,932 shares at an average price of $33.98. To acquire these shares, it cost around $99.63 thousand.
• What’s Happening: United Natural Foods recently reported fourth-quarter FY22 sales growth of 8% year-on-year to $7.27 billion.
• What United Natural Foods Does: United Natural Foods Inc is a wholesale distributor of natural, organic and specialty foods and nonfood products across North America.

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Also check this: Tesla, Credit Suisse And Some Other Big Stocks Moving Lower In Today's Pre-Market Session

BRT Apartments

• The Trade: BRT Apartments Corp. BRT President and CEO Jeffrey Gould bought a total of 3,689 shares at an average price of $20.41. To acquire these shares, it cost around $75.31 thousand.
• What’s Happening: BRT Apartments, in August, posted Q2 FFO of $0.20.
• What BRT Apartments Does: BRT Apartments Corp is a real estate investment trust company. The company is primarily focused on the ownership, operation, and development of multi-family properties.