$6M Bet On Beacon Roofing Supply? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed higher on Friday, 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.

Beacon Roofing Supply

• The Trade: Beacon Roofing Supply, Inc. BECN 10% owner CD&R Boulder Holdings, L.P. acquired a total of 99,880 shares an average price of $60.07. To acquire these shares, it cost around $6 million.
• What’s Happening: Beacon Roofing Supply reported weaker-than-expected Q4 sales.
• What Beacon Roofing Supply Does: Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada.

KeyCorp

• The Trade: KeyCorp KEY Director Richard J Hipple acquired a total of 2,200 shares at an average price of $10.66. To acquire these shares, it cost around $23.45 thousand.
• What’s Happening: KeyCorp reported worse-than-expected Q1 EPS and sales results.
• What KeyCorp Does: With assets of over $170 billion, Ohio-based KeyCorp's bank footprint spans 16 states, but it is predominantly concentrated in its two largest markets: Ohio and New York.

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Hancock Whitney

• The Trade: Hancock Whitney Corporation HWC Director Joan Cahill Teofilo bought a total of 2,226 shares at an average price of $35.33. To acquire these shares, it cost around $78.63 thousand.
• What’s Happening: Hancock Whitney posted better-than-expected quarterly earnings.
• What Hancock Whitney Does: Hancock Whitney Corp operates bank offices and financial centers.

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