Around $5 Million Bet On This Financial Services Stock? Check Out 4 Stocks Insiders Are Buying

Although US stocks closed lower on Wednesday, 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.

Advanced Drainage Systems

• The Trade: Advanced Drainage Systems, Inc. WMS Director Manuel J. Perez de la Mesa acquired a total of 5,000 shares an average price of $81.90. To acquire these shares, it cost around $409.5 thousand.
• What’s Happening: Advanced Drainage Systems recently reported worse-than-expected Q2 results.
• What Advanced Drainage Systems Does: Advanced Drainage Systems Inc is engaged in designing, manufacturing, and marketing thermoplastic corrugated pipe and related water management products in North and South America, and Europe.

RE/MAX Holdings

• The Trade: RE/MAX Holdings, Inc. RMAX 10% owner Magnolia Group LLC acquired a total of 14,199 shares at at an average price of $17.42. To acquire these shares, it cost around $247.34 thousand.
• What’s Happening: The company recently posted downbeat quarterly earnings.
• What RE/MAX Holdings Does: RE/MAX Holdings Inc operates as a franchisor of real estate brokerage services. It recruits and retains agents and sells franchises.

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Theseus Pharmaceuticals

• The Trade: Theseus Pharmaceuticals, Inc. THRX Director Carl Gordon bought a total of 192,000 shares at an average price of $5.21. To acquire these shares, it cost around $1 million.
• What’s Happening: Theseus Pharmaceuticals recently posted a Q3 loss of $0.38 per share.
• What Theseus Pharmaceuticals Does: Theseus Pharmaceuticals Inc is a biopharmaceutical company focused on improving the lives of cancer patients through the discovery, development and commercialization of transformative targeted therapies.

Enstar Group

• The Trade: Enstar Group Limited ESGR CEO Michael Francis Dominic Silvester bought a total 26,000 shares at an average price of $190.08. The insider spent around $4.94 million to buy those shares.
• What’s Happening: The company recent posted a Q3 net loss of US$444.0 million.
• What Enstar Group Does: Enstar Group Ltd is a (re)insurance group that offers capital release solutions through its network of group companies.