$7.5 Million Bet On This Financial Services Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed lower on Monday, 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.

Victory Capital Holdings

• The Trade: Victory Capital Holdings, Inc. VCTR Chairman and CEO Craig David Brown acquired a total of 60,000 shares an average price of $26.97. To acquire these shares, it cost around $1.62 million.
• What’s Happening: Piper Sandler recently maintained Victory Capital with an Underweight and lowered the price target from $29 to $27.
• What Victory Capital Does: Victory Capital Holdings Inc is an independent investment management firm.

Williams Rowland Acquisition

• The Trade: Williams Rowland Acquisition Corp. WRAC Director, Co- Chief Executive Officer, David B. Williams acquired a total of 741,921 shares at an average price of $10.20. To acquire these shares, it cost around $7.56 million.
• What’s Happening: The company’s stock dropped around 2% over the past month.
• What Williams Rowland Acquisition Does: Williams Rowland Acquisition Corp is a blank check company.

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Masimo

• The Trade: Masimo Corporation MASI Director, CEO and Chairman of the Board) Joe Kiani bought a total of 7,040 shares at an average price of $144.79. To acquire these shares, it cost around $1.02 million.
• What’s Happening: BTIG recently upgraded Masimo from Neutral to Buy and announced $180 price target.
• What Masimo Does: Masimo is an Irvine, California-based medical device business that focuses on noninvasive patient monitoring.