Insiders Buying Caesars Entertainment And 2 Other Stocks

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.

AutoZone

• The Trade: AutoZone, Inc. AZO Senior Vice President Michelle Borninkhof acquired a total of 476 shares an average price of $2,406.65. To acquire these shares, it cost around $1.15 million.
• What’s Happening: AutoZone authorized additional $2.0 billion stock repurchase.
• What AutoZone Does: AutoZone is the premier seller of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in the United States.

Donegal Group

• The Trade: Donegal Group Inc. DGICA 10% owner Donegal Mutual Insurance Co acquired a total of 6,901 shares at an average price of $15.49. To acquire these shares, it cost around $106.92 thousand.
• What’s Happening: Donegal reported weaker-than-expected first-quarter earnings.
• What Donegal Group Does: Donegal Group Inc is an insurance holding company that offers personal and commercial lines of property and casualty insurance to businesses and individuals.

Don’t forget to check out our premarket coverage here

Caesars Entertainment

• The Trade: Caesars Entertainment, Inc. CZR CEO Thomas Reeg bought a total of 7,500 shares at an average price of $49.43. To acquire these shares, it cost around $370.73 thousand.
• What’s Happening: Caesars reported first-quarter revenue of $2.83 billion, which was up from $2.3 billion year-over-year and came in ahead of average analyst estimates of $2.76 billion.
• What Caesars Entertainment Does: Caesars Entertainment includes around 50 domestic gaming properties across Las Vegas (58% of 2022 EBITDAR before corporate and digital expenses) and regional (59%) markets.

Check This Out: Traders More Optimistic Following Fed's Rate Decision