$1M Bet On This Online Dating Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed higher on Thursday, 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.

Grocery Outlet

• The Trade: Grocery Outlet Holding Corp. GO Director Erik Ragatz acquired a total of 70,000 shares an average price of $28.50. To acquire these shares, it cost around $1.99 million.
• What’s Happening: Grocery Outlet posted better-than-expected quarterly earnings.
• What Grocery Outlet Does: Grocery Outlet Holding Corp is a grocery store operator in the United States.

Match Group

• The Trade: Match Group, Inc. MTCH CEO Bernard Jin Kim acquired a total of 31,439 shares at an average price of $34.44. To acquire these shares, it cost around $1.08 million.
• What’s Happening: The company reported first-quarter EPS of 42 cents, beating the consensus estimate of 41 cents. It represents a 5% increase from the same period last year.
• What Match Group Does: Match Group is a provider of online dating products. The firm became public in 2015 and was more than 80% owned by IAC/InterActiveCorp until IAC spun it off in the second quarter of 2020.

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Everbridge

• The Trade: Everbridge, Inc. EVBG Director David Henshall bought a total of 20,000 shares at an average price of $23.24. To acquire these shares, it cost around $464.8 thousand.
• What’s Happening: Everbridge clocked an 8% revenue growth in the first quarter of FY23 to $108.27 million, beating the consensus of $106.39 million.
• What Everbridge Does: Everbridge Inc is a software company that provides enterprise software applications that automate and accelerate organizations' operational response to critical events to keep people safe and businesses running.

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