Insiders Buying Manitowoc And 1 Other Stock

Although US stocks closed higher on Tuesday, 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.

Manitowoc

• The Trade: The Manitowoc Company, Inc. MTW Director Anne Belec acquired a total of 1,693.026 shares an average price of $14.40. To acquire these shares, it cost around $24.38 thousand.
• What’s Happening: Wells Fargo maintained Manitowoc with an Underweight and raised the price target from $9 to $11.
• What Manitowoc Does: Manitowoc Co Inc provides engineered lifting solutions. It designs and manufactures mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, and boom trucks.

Clearfield

• The Trade: Clearfield, Inc. CLFD Director Ronald G Roth acquired a total of 3,100 shares at an average price of $64.00. To acquire these shares, it cost around $198.4 thousand.
• What’s Happening: Clearfield recently reported upbeat Q1 earnings results.
• What Clearfield Does: Clearfield Inc mainly designs, manufactures, and distributes fiber protection, fiber management and fiber delivery solutions for communications networks.

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