Over $17 Million Bet On Element Solutions? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed higher on Tuesday, 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.

Masimo

• The Trade: Masimo Corporation MASI Director, CEO and Chairman of the Board Joe Kiani acquired a total of 31,994 shares an average price of $123.99. To acquire these shares, it cost around $3.97 million.
• What’s Happening: The company recently posted upbeat Q3 results.
• What Masimo Does: Masimo is an Irvine, California-based medical device business that focuses on noninvasive patient monitoring.

Element Solutions

• The Trade: Element Solutions Inc ESI Director Martin E Franklin acquired a total of 902,000 shares at at an average price of $19.07. To acquire these shares, it cost around $17.2 million.
• What’s Happening: The company, last month, posted in-line quarterly earnings.
• What Element Solutions Does: Element Solutions Inc specialty chemicals company whose businesses supply a broad range of solutions that enhance the performance of products people use every day.

Don’t forget to check out our premarket coverage here .

Also check this: Markets Turn More Bullish Ahead Of Earnings

Cable One

• The Trade: Cable One, Inc. CABO Director Thomas S. Gayner bought a total of 5,000 shares at an average price of $714.72. To acquire these shares, it cost around $3.57 million.
• What’s Happening: The company recently reported downbeat Q3 results.
• What Cable One Does: Cable One Inc is a telecommunications company. It derives revenue from the provision of broadband, voice, and video services to residential and business customers.