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

Although US stocks closed higher 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.

GameStop

• The Trade: GameStop Corp. GME Director Lawrence Cheng acquired a total of 5,000 shares an average price of $22.80. To acquire these shares, it cost around $113.99 thousand.
• What’s Happening: GameStop turned in a profitable quarter for the first time in two years.
• What GameStop Does: GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States.

Frontier Communications

• The Trade: Frontier Communications Parent, Inc. FYBR 10% owner ACOF VI Frontier AIV A9, L.P. acquired a total of 139,522 shares at an average price of $21.09. To acquire these shares, it cost around $2.94 million.
• What’s Happening: Morgan Stanley downgraded Frontier Communications from Equal-Weight to Underweight and lowered the price target from $23 to $19.
• What Frontier Communications Does: Frontier Communications Parent Inc offers a variety of services to residential and business customers over its fiber-optic and copper networks, including video, high-speed internet, advanced voice, and Frontier Secure digital protection solutions.

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Centerspace

• The Trade: Centerspace CSR Director, President, CEO and CIO and Chairman Mark O. Decker, Jr. bought a total of 1,000 shares at an average price of $52.51. To acquire these shares, it cost around $52.51 thousand.
• What’s Happening: Centerspace reported a rise in quarterly earnings.
• What Centerspace Does: Centerspace is a real estate investment trust (REIT) that focuses on the ownership, management, acquisitions, redevelopment, and development of apartment communities.

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