McDonald's And 3 Other Stocks Bought By Insiders

Although US stocks closed sharply 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.

Rent-A-Center

• The Trade: Rent-A-Center, Inc. RCII CEO Mitchell Fadel acquired a total of 40,000 shares at an average price of $27.08. To acquire these shares, it cost around $1.08 million.
• What’s Happening: Rent-A-Center recently reported worse-than-expected Q4 EPS and sales results and issued Q1 and FY22 adjusted EPS and sales guidance below estimates.
• What Rent-A-Center Does: Rent-A-Center offers rent-to-own purchasing options for appliances, computers, smartphones, furniture, and related items. Customers make rental payments with the option to own the product after completing rent-to-own agreements.

Ball Corporation

• The Trade: Ball Corporation BLL SVP and CHRO Stacey Panayiotou acquired a total of 6,000 shares at an average price of $88.91. To acquire these shares, it cost around $533.45 thousand.
• What’s Happening: Ball, in January, reported better-than-expected Q4 EPS and sales results.
• What Ball Does: Ball is the world's largest metal can manufacturer with market share over 40% in its three main regions (North America, Europe, and South America).

Also check this: 3 Penny Stocks Insiders Are Buying

Cytek Biosciences

• The Trade: Cytek Biosciences, Inc. CTKB Director Rajeev Shah bought a total of 441,865 shares at an average price of $12.95. To acquire these shares, it cost around $5.72 million.
• What’s Happening: The company recently posted upbeat quarterly sales.
• What Cytek Biosciences Does: Cytek Biosciences Inc is a cell analysis solutions company advancing the next generation of cell analysis tools by leveraging novel technical approaches.

McDonald's

• The Trade: McDonald's Corporation MCD Director Catherine Engelbert bought a total of 1,000 shares at an average price of $244.18. The insider spent around $244.18 thousand to buy those shares.
• What’s Happening: McDonald's, in January, reported fourth-quarter FY21 sales growth of 13% year-on-year, to $6.01 billion
• What McDonald's Does: McDonald's is the largest restaurant owner-operator in the world, with trailing 12-month system sales of $112 billion (as of year-end 2021) across nearly 40,000 stores and 119 countries.