$2M Bet On Universal Technical Institute? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed lower 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.

Universal Technical Institute

• The Trade: Universal Technical Institute, Inc. UTI Director Adam Gray acquired a total of 307,650 shares an average price of $6.67. To acquire these shares, it cost around $2.05 million.
• What’s Happening: Argus Research downgraded Universal Technical from Buy to Hold.
• What Universal Technical Institute Does: Universal Technical Institute Inc is an educational institution. It provides undergraduate degree, as well as certificate programs for technicians in the automotive, diesel, collision repair, motorcycle and marine fields.

Comtech Telecommunications

• The Trade: Comtech Telecommunications Corp. CMTL Director Mark R Quinlan acquired a total of 100,000 shares at an average price of $8.89. To acquire these shares, it cost around $888.57 thousand.
• What’s Happening: Comtech Telecommunications reported worse-than-expected third-quarter adjusted EPS results.
• What Comtech Telecommunications Does: Comtech Telecommunications Corp is a provider of advanced communications solutions. The company is engaged in designing, developing, producing and marketing products, systems, and services for communications solutions.

Don’t forget to check out our premarket coverage here

Southwest Gas

• The Trade: Southwest Gas Holdings, Inc. SWX 10% owner Icahn Partners Master Fund LP bought a total of 9,652 shares at an average price of $57.99. To acquire these shares, it cost around $559.72 thousand.
• What’s Happening: Southwest Gas posted upbeat quarterly results.
• What Southwest Gas Does: Southwest Gas Holdings Inc is a utility company primarily engaged in the purchasing, distributing, and transporting of natural gas in the American Southwest.

Check This Out: Investor Optimism Declines After US Stocks Record Weekly Loss