Hanesbrands And 2 Other Stocks Bought By Insiders

US stock futures traded lower this morning after recording sharp losses in the previous session. Investors, meanwhile, focused on some 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.

Hanesbrands

• The Trade: Hanesbrands Inc. HBI Director Cheryl Beebe acquired a total of 6,250 shares at an average price of $15.61. To acquire these shares, it cost around $97.56 thousand.
• What’s Happening: The company recently reported in-line quarterly earnings.
• What Hanesbrands Does: Hanesbrands manufactures basic and athletic apparel under brands including Hanes, Champion, Playtex, Bali, and Bonds.

Container Store Group

• The Trade: The Container Store Group, Inc. TCS CEO and President Satish Malhotra acquired a total of 24,355 shares at an average price of $8.17. To acquire these shares, it cost $198.98 thousand.
• What’s Happening: The Container Store Group recently issued Q4 EPS guidance below estimates and said it expects a Q4 sales decline of approximately 11% year over year.
• What Container Store Group Does: The Container Store Group Inc is a U.S. based specialty retailer of storage and organization products and solutions. It offers a collection of multifunctional and customizable storage and organization solutions.

Also check this: 3 Penny Stocks Insiders Are Buying

Arcellx

• The Trade: Arcellx, Inc. ACLX 10% owner Sr One Coinvest Ii Manager Llc bought a total of 5,500,007 shares at an average price of $15.00. To acquire these shares, it cost around $25 million.
• What’s Happening: The company recently priced its IPO at $15 per share.
• What Arcellx Does: Arcellx Inc is a clinical-stage biotechnology company reimagining cell therapy through the development of innovative immunotherapies for patients with cancer and other incurable diseases.