Over $15.5M Bet On ModivCare? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed slightly 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.

Akero Therapeutics

• The Trade: Akero Therapeutics, Inc. AKRO Director Walmsley Graham acquired a total of 25,000 shares an average price of $42.06. To acquire these shares, it cost around $1.05 million.
• What’s Happening: Akero Therapeutics recently reported its SYMMETRY study met safety and tolerability endpoints.
• What Akero Therapeutics Does: Akero Therapeutics Inc is a clinical-stage biotechnology company focused on developing and commercializing transformative treatments for serious metabolic diseases with high unmet medical needs.

ModivCare

• The Trade: ModivCare Inc. MODV Director Adam Gray acquired a total of 435,893 shares at an average price of $35.74. To acquire these shares, it cost around $15.58 million.
• What’s Happening: ModivCare posted weaker-than-expected quarterly results.
• What ModivCare Does: ModivCare Inc is a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions for payors and their members.

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TreeHouse Foods

• The Trade: TreeHouse Foods, Inc. THS 10% owner Jana Partners LLC bought a total of 41,500 shares at an average price of $46.11. To acquire these shares, it cost around $1.91 million.
• What’s Happening: Treehouse Foods reported second-quarter sales growth of 4.1% year-over-year to $843.60 million, beating the consensus of $829.85 million.
• What TreeHouse Foods Does: TreeHouse Foods, the largest private label manufacturer in the U.S., is the product of a slew of acquisitions, the most significant being the 2016 acquisition of Ralcorp, Conagra's former private brands business.

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V.F. Corporation

• The Trade: V.F. Corporation VFC Director Richard Carucci bought a total 40,000 shares at an average price of $19.09. The insider spent around $763,644 to buy those shares.
• What’s Happening: VF reported wider-than-expected first-quarter loss.
• What V.F. Corporation Does: VF designs, produces, and distributes branded apparel, footwear, and accessories.