Over $125M Bet On Occidental Petroleum? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed higher 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.

DISH Network

• The Trade: DISH Network Corporation DISH Director James Defranco acquired a total 3,000,000 shares an average price of $6.20. To acquire these shares, it cost around $18.59 million.
• What’s Happening: DISH Network posted weaker-than-expected quarterly earnings.
• What DISH Network Does: From its founding in the 1980s, Dish Network has primarily focused on the satellite television business, capitalizing on technological advancements to expand its reach.

MeiraGTx Holdings

• The Trade: MeiraGTx Holdings plc MGTX 10% owner Joseph Edelman acquired a total of 4,347,826 shares at an average price of $5.75. To acquire these shares, it cost around $25 million.
• What’s Happening: MeiraGTx Hldgs posted a narrower-than-expected quarterly loss.
• What MeiraGTx Holdings Does: MeiraGTx Holdings PLC is a clinical-stage gene therapy company. It focuses on the eye, salivary gland, and central nervous system disorders.

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Innoviva

• The Trade: Innoviva, Inc. INVA Sarissa Capital Management LP bought a total of 290,000 shares at an average price of 12.34. To acquire these shares, it cost around $3.58 million.
• What’s Happening: Innoviva posted upbeat earnings for its first quarter.
• What Innoviva Does: Innoviva Inc develops biopharmaceutical drugs in the antibiotic, respiratory, and digestive realms.

Occidental Petroleum

• The Trade: Occidental Petroleum Corporation OXY 10% owner Warren E Buffett bought a total 2,165,792 shares at an average price of $58.06. The insider spent around $125.75 million to buy those shares.
• What’s Happening: Occidental Petroleum reported worse-than-expected first-quarter results.
• What Occidental Petroleum Does: Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East.
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