Over $32M Bet On Coty? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed higher 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.

Frontier Communications Parent

• The Trade: Frontier Communications Parent, Inc. FYBR 10% owner ACOF VI Frontier AIV A9, L.P. acquired a total of 150,000 shares an average price of $14.80. To acquire these shares, it cost around $2.22 million.
• What’s Happening: Frontier Communications Parent reported a second-quarter FY23 revenue decline of 0.7% year-on-year to $1.45 billion, beating the consensus of $1.44 billion.
• What Frontier Communications Parent Does: Frontier Communications Parent Inc offers a variety of services to residential and business customers over its fiber-optic and copper networks, including video, high-speed internet, advanced voice, and Frontier Secure digital protection solutions.

Coty

• The Trade: Coty Inc. COTY 10% owner Se Lucresca acquired a total of 3,000,000 shares at an average price of $10.80. To acquire these shares, it cost around $32.4 million.
• What’s Happening: Coty priced global offering of 33 million outstanding Class A common stock at $10.80.
• What Coty Does: Coty Inc is a global beauty firm that sells fragrance, color cosmetics, and skin and body care.

Don’t forget to check out our premarket coverage here

RE/MAX Holdings

• The Trade: RE/MAX Holdings, Inc. RMAX 10% owner Magnolia Group LLC bought a total of 215,565 shares at an average price of $12.49. To acquire these shares, it cost around $2.69 million.
• What’s Happening: RE/MAX Hldgs posted in-line earnings for the second quarter.
• What RE/MAX Holdings Does: RE/MAX Holdings Inc operates as a franchisor of real estate brokerage services. It recruits and retains agents and sells franchises.

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