$2M Bet On This Financial Services Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mixed 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.

LendingTree

• The Trade: LendingTree, Inc. TREE Chairman and CEO Douglas R Lebda acquired a total of 65,062 shares an average price of $32.03. To acquire these shares, it cost around $2.08 million.
• What’s Happening: LendingTree, during November, posted a narrower-than-expected quarterly loss.
• What LendingTree Does: LendingTree Inc is a United States-based company that is principally engaged in operating an online loan marketplace.

CNB Financial

• The Trade: CNB Financial Corporation CCNE President and CEO Michael Peduzzi acquired a total of 1,372 shares at an average price of $23.30. To acquire these shares, it cost around $31.97 thousand.
• What’s Happening: The company recently posted downbeat Q4 earnings.
• What CNB Financial Does: CNB Financial Corp is providing integrated financial solutions, which create value for both consumers and businesses.

Don’t forget to check out our premarket coverage here

Parke Bancorp

• The Trade: Parke Bancorp, Inc. PKBK President and CEO Vito S Pantilione bought a total of 1,100 shares at an average price of $20.76. To acquire these shares, it cost around $22.83 thousand.
• What’s Happening: Parke Bancorp reported a rise in Q4 earnings.
• What Parke Bancorp Does: Parke Bancorp Inc operates as a commercial bank providing personal and financial services to individuals and small to mid-sized businesses in various states of the USA.

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