$1M Bet On Axalta Coating Systems? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed lower 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.

Axalta Coating Systems

• The Trade: Axalta Coating Systems Ltd. AXTA Director Kevin Stein acquired a total of 36,600 shares an average price of $27.38. To acquire these shares, it cost around $1 million.
• What’s Happening: Axalta Coating Systems reported worse-than-expected second-quarter financial results and issued FY23 guidance below estimates.
• What Axalta Coating Systems Does: Axalta Coating Systems Ltd is a manufacturer, marketer and distributor of high-performance coatings systems.

Spire

• The Trade: Spire Inc. SR Treasurer Adam W Woodard acquired a total of 1,000 shares at an average price of $58.70. To acquire these shares, it cost around $58,700.
• What’s Happening: Spire posted downbeat results for its third quarter.
• What Spire Does: Spire Inc is a public utility holding company with two key business segments: Gas Utility and Gas Marketing.

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Donegal Group

• The Trade: Donegal Group Inc. DGICA 10% owner Donegal Mutual Insurance Co bought a total of 4,689 shares at an average price of $14.65. To acquire these shares, it cost around $68,675.
• What’s Happening: Donegal posted better-than-expected quarterly sales.
• 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.

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