$12.5M Bet On This Technology Stock? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed mostly lower 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.

Bread Financial Holdings

• The Trade: Bread Financial Holdings, Inc. BFH 10% owner Turtle Creek Asset Management Inc acquired a total 210,000 shares an average price of 27.43. To acquire these shares, it cost around $5.76 million.
• What’s Happening: Bread Finl Hldgs reported a sharp rise in first-quarter EPS.
• What Bread Financial Holdings Does: Formed by a combination of JCPenney's credit card processing unit and The Limited's credit card bank business, Bread Financial is a provider of private label and co-branded credit cards, loyalty programs, and marketing services.

Toast

• The Trade: Toast, Inc. TOST Director David Yuan acquired a total of 635,000 shares at an average price of $19.74. To acquire these shares, it cost around $12.53 million.
• What’s Happening: Toast reported better-than-expected first-quarter results and raised its FY23 guidance.
• What Toast Does: Toast is a U.S.-based restaurant technology company that provides point-of-sale, payment processing, and various software services to 79,000 restaurant locations across the United States at the end of 2022.

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Howard Hughes

• The Trade: The Howard Hughes Corporation HHC Director William Ackman bought a total of 65,908 shares at an average price of $74.05. To acquire these shares, it cost around $4.88 million.
• What’s Happening: Howard Hughes posted a narrower-than-expected loss for its first quarter.
• What Howard Hughes Does: The Howard Hughes Corp is a real estate company that develops master-planned communities (MPCs) and is involved in other strategic real estate development opportunities across the United States.

Tyson Foods

• The Trade: Tyson Foods, Inc. TSN Director Kevin M McNamara bought a total 20,500 shares at an average price of $48.92. The insider spent around $1 million to buy those shares.
• What’s Happening: Tyson reported worse-than-expected second-quarter results and cut its FY23 financial outlook.
• What Tyson Foods Does: Tyson Foods is the largest U.S. producer of processed chicken and beef. It's also a large producer of processed pork and protein-based products under the brands Jimmy Dean, Hillshire Farm, Ball Park, Sara Lee, Aidells, State Fair, and Raised & Rooted, to name a few.

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