$230M Bet On Talos Energy? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed higher on Friday, 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.

Talos Energy

• The Trade: Talos Energy Inc. TALO 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 19,658,119 shares an average price of $11.70. To acquire these shares, it cost around $230 million.
• What’s Happening: Talos Energy priced its $351 million upsized underwritten public offering of 30 million common stock.
• What Talos Energy Does: Talos Energy Inc is an independent oil and gas company primarily involved in offshore exploration and production.

PBF Energy

• The Trade: PBF Energy Inc. PBF 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 500,000 shares at an average price of $41.57. To acquire these shares, it cost around $20.78 million.
• What’s Happening: Piper Sandler analyst Ryan Todd recently downgraded PBF Energy from Overweight to Neutral and lowers the price target from $65 to $50.
• What PBF Energy Does: PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.

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AMREP

• The Trade: AMREP Corporation AXR 10% owner Rainey Lancaster bought a total of 7,000 shares at an average price of $21.91. To acquire these shares, it cost around $153,384.
• What’s Happening: Amrep, last month, reported a decline in quarterly sales.
• What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.

KalVista Pharmaceuticals

• The Trade: KalVista Pharmaceuticals, Inc. KALV 10% owner Nimish Shah bought a total of 143,605 shares at an average price of $12.55. The insider spent around $1.8 million to buy those shares.
• What’s Happening: KalVista Pharma, last month, announced publication of first oral factor XIIa data in Frontiers in Pharmacology.
• What KalVista Pharmaceuticals Does: KalVista Pharmaceuticals Inc is a pharmaceutical company, which focuses on the discovery, development, and commercialization of small molecule protease inhibitors for a range of diseases.

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