$6 Million Bet On Beacon Roofing Supply? 3 Stocks Insiders Are Buying

Although 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.

Beacon Roofing Supply

• The Trade: Beacon Roofing Supply, Inc. BECN 10% owner CD&R Boulder Holdings, L.P. acquired a total of 105,320 shares an average price of $56.97. To acquire these shares, it cost around $6 million.
• What’s Happening: Beacon is expected to announce Q3 earnings on November 3, 2022.
• What Beacon Roofing Supply Does: Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada.

Capitol Federal Financial

• The Trade: Capitol Federal Financial, Inc. CFFN Executive Vice President Rick Jackson acquired a total of 8,000 shares at an average price of $7.59. To acquire these shares, it cost around $60.72 thousand.
• What’s Happening: The company recently posted downbeat quarterly earnings.
• What Capitol Federal Financial Does: Capitol Federal Financial Inc is a bank holding company that operates through its wholly-owned subsidiary bank, Capitol Federal Savings Bank.

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Hudson Global

• The Trade: Hudson Global, Inc. HSON CEO Jeffrey E Eberwein bought a total of 1,500 shares at an average price of $33.55. To acquire these shares, it cost around $50.33 thousand.
• What’s Happening: Hudson Global, during August, acquired Hunt & Badge Consulting Private Limited, an India-headquartered provider of recruitment services to customers operating in India.
• What Hudson Global Does: Hudson Global Inc provides specialized recruitment and related talent solutions. Its core services include Permanent recruitment, Contracting, Recruitment process outsourcing (RPO) and Talent management solutions.