Insiders Buying Culp And 2 Other Stocks

Although US stocks closed higher on Tuesday, 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.

Culp

• The Trade: Culp, Inc. CULP Director Bullock Kimberly Gatling acquired a total of 2,666 shares an average price of $5.15. To acquire these shares, it cost around $13,718.
• What’s Happening: Culp reported better-than-expected fourth-quarter financial results.
• What Culp Does: Culp Inc manufacturers, sources, and markets mattress fabrics and sewn covers used for covering mattresses and box springs and upholstery fabrics including cut and sewn kits used in the production of upholstered furniture.

PIMCO Energy and Tactical Credit Opportunities Fund

• The Trade: PIMCO Energy and Tactical Credit Opportunities Fund NRGX 10% owner Rainey Lancaster acquired a total of 25,361 shares at an average price of $14.82. To acquire these shares, it cost around $375,917.
• What’s Happening: The Board of Trustees of PIMCO Energy and Tactical Credit Opportunities Fund recently declared a quarterly distribution for the Fund’s common shares.
• What PIMCO Energy and Tactical Credit Opportunities Fund Does: PIMCO Energy & Tactical Credit Opportunities is a non-diversified, limited term closed-end management investment company.

Don’t forget to check out our premarket coverage here

ClearBridge Energy Midstream Opportunity Fund

• The Trade: ClearBridge Energy Midstream Opportunity Fund Inc EMO 10% owner Boaz Weinstein bought a total of 12,958 shares at an average price of $30.12. To acquire these shares, it cost around $390,330.
• What’s Happening: ClearBridge Energy Midstream Opportunity Fund recently reported unaudited balance sheet information as of June 30, 2023.
• What ClearBridge Energy Midstream Opportunity Fund Does: ClearBridge Energy Midstream Opportunity Fund Inc is a non-diversified, closed-end management investment company.

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