Over $15M Bet On Impinj? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed lower 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.

MarketAxess Holdings

• The Trade: MarketAxess Holdings Inc. MKTX CEO Christopher R Concannon acquired a total of 4,270 shares an average price of $238.42. To acquire these shares, it cost around $1.02 million.
• What’s Happening: MarketAxess inked a deal to acquire Pragma for an undisclosed amount.
• What MarketAxess Holdings Does: Founded in 2000, MarketAxess is a leading electronic fixed-income trading platform that connects broker/dealers and institutional investors.

Evolus

• The Trade: Evolus, Inc. EOLS Director Vikram Malik acquired a total of 197,965 shares at an average price of $7.41. To acquire these shares, it cost around $1.3 million.
• What’s Happening: Evolus reported a wider-than-expected second-quarter loss.
• What Evolus Does: Evolus Inc is a performance beauty company with a customer-centric approach to delivering breakthrough products in the self-pay aesthetic market.

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Impinj

• The Trade: Impinj, Inc. PI Director Daniel Gibson bought a total of 263,740 shares at an average price of $58.26. To acquire these shares, it cost around $15.37 million.
• What’s Happening: Impinj posted upbeat second-quarter results.
• What Impinj Does: Impinj Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's identity, location, and authenticity to business and consumer applications.

Check This Out: Check Out 3 Materials Stocks With Over 4% Dividend Yields From Wall Street's Most Accurate Analysts

Ryerson Holding

• The Trade: Ryerson Holding Corporation RYI Director Stephen Larson bought a total 5,000 shares at an average price of $29.55. The insider spent around $147,749 to buy those shares.
• What’s Happening: Ryerson Holding reported worse-than-expected second-quarter financial results.
• What Ryerson Holding Does: Ryerson Holding Corp provides a metals service center, and value-added processor and is a distributor of industrial metals with operations in the United States, Canada and Mexico.