3 Stocks Insiders Are Buying

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.

Hibbett

• The Trade: Hibbett, Inc. HIBB Director Anthony Crudele acquired a total of 2000 shares at an average price of $69.25. To acquire these shares, it cost $138,500.00.
• What’s Happening: Hibbett, earlier during the month, reported third-quarter FY21 sales growth of 15.2% year-on-year, to $381.72 million, beating the analyst consensus of $360.63 million..
• What Hibbett Does: Hibbett Inc is engaged in the retail of sports goods. The company operates small to midsize stores and focuses its business in the South, Southwest, mid-Atlantic, and Midwest areas of the country.

American Woodmark

• The Trade: American Woodmark Corporation AMWD President and CEO Scott Michael Culbreth acquired a total of 2000 shares at an average price of $57.96. To acquire these shares, it cost $115,910.00.
• What’s Happening: The company, last month, posted downbeat quarterly results.
• What American Woodmark Does: American Woodmark Corp manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets.

Luminar Technologies

• The Trade: Luminar Technologies, Inc. LAZR Director Matthew Simoncini bought a total of 10000 shares at an average price of $16.03. To acquire these shares, it cost $160,300.00.
• What’s Happening: Luminar was recently granted U.S. patent #11,204,413 'Combining lidar and camera data.'
• What Luminar Technologies Does: Luminar Technologies Inc is an autonomous vehicle sensor and software company with the vision to make autonomy safe and ubiquitous by delivering the lidar and associated software that meets the industry's stringent performance, safety, and economic requirements.