$2M Bet On This Energy Stock? Check Out These 4 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.

RXO

• The Trade: RXO, Inc. RXO 10% owner Farhad Nanji acquired a total of 170,000 shares an average price of $19.37. To acquire these shares, it cost around $3.29 million.
• What’s Happening: RXO posted better-than-expected third-quarter earnings.
• What RXO Does: RXO Inc is a brokered transportation platform defined by cutting-edge technology and a nimble, asset-light business model, with the largest component being core truck brokerage business.

Talos Energy

• The Trade: Talos Energy Inc. TALO 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 140,251 shares at an average price of $14.20. To acquire these shares, it cost around $1.99 million.
• What’s Happening: Talos Energy posted upbeat third-quarter results.
• What Talos Energy Does: Talos Energy Inc is an independent oil and gas company primarily involved in offshore exploration and production.

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Impinj

• The Trade: Impinj, Inc. PI Director Patrick Daniel Gibson bought a total of 33,682 shares at an average price of $73.16. To acquire these shares, it cost around $2.46 million.
• What’s Happening: Impinj reported better-than-expected third-quarter revenue 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.

AT&T

• The Trade: AT&T Inc. T Director Stephen Luczo bought a total of 62,500 shares at an average price of $15.55. The insider spent around $971,875 to buy those shares.
• What’s Happening: AT&T reported better-than-expected third-quarter financial results.
• What AT&T Does: The wireless business contributes about two thirds of AT&T's revenue following the spinoff of Warner Media. The firm is the third-largest U.S. wireless carrier, connecting 70 million postpaid and 18 million prepaid phone customers.

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