$5 Million Bet On IAC? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mixed 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.

IAC

• The Trade: IAC Inc. IAC Director Michael D Eisner acquired a total of 106,241 shares an average price of $47.13. To acquire these shares, it cost around $5.01 million.
• What’s Happening: The company recently posted downbeat quarterly results.
• What IAC Does: IAC/InterActiveCorp, headquartered in New York operates as a media and internet company worldwide.

GoHealth

• The Trade: GoHealth, Inc. GOCO 10% owner CB Blizzard Holdings C, L.P. acquired a total of 83,215 shares at an average price of $8.58. To acquire these shares, it cost around $713.66 thousand.
• What’s Happening: The company recently posted a narrower-than-expected quarterly loss.
• What GoHealth Does: GoHealth, founded in 2001, operates as a health insurance marketplace and Medicare focused digital health company in the United States.

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MacroGenics

• The Trade: MacroGenics, Inc. MGNX 10% owner BB Biotech AG bought a total of 300,000 shares at an average price of $5.96. To acquire these shares, it cost around $1.79 million.
• What’s Happening: Citigroup recently downgraded Macrogenics from Buy to Neutral and lowered the price target from $16 to $7.
• What MacroGenics Does: MacroGenics, headquartered in Rockville, Maryland, is a biopharmaceutical company.