Insiders Buying CSP And 2 Other Stocks

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.

MasterCraft Boat Holdings

• The Trade: MasterCraft Boat Holdings, Inc. MCFT 10% owner Adam Gray acquired a total of 347,804 shares at an average price of $20.84. To acquire these shares, it cost around $7.26 million.
• What's Happening: On May 8, MasterCraft Boat reported upbeat third-quarter financial results.
• What MasterCraft Boat Holdings Does: MasterCraft Boat Holdings Inc designs, manufactures, and markets performance sport boats and outboard boats.

ProFrac Holding

• The Trade: ProFrac Holding Corp. ACDC 10% owner Farris & Jo Ann Wilks 2022 Family Trust acquired a total of 330,000 shares at an average price of $22.08. To acquire these shares, it cost around $7.29 million.
• What's Happening: ProFrac Holding said Lance Turner will resign as CFO effective June 17.
• What ProFrac Holding Does: ProFrac Holding Corp is engaged in providing hydraulic fracturing, completion services, and other complementary products and services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.

Don’t forget to check out our premarket coverage here

CSP

• The Trade: CSP Inc. CSPI 10% owner Joseph R Nerges bought a total of 2,350 shares at an average price of $14.63. To acquire these shares, it cost around $34,381.
• What's Happening: On May 8, CSP reported an increase in EPS for the second quarter.
• What CSP Does: CSP Inc along with its subsidiaries develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and high-performance cluster computer systems.

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