$4M Bet On B. Riley Financial? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mixed 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.

B. Riley Financial

• The Trade: B. Riley Financial, Inc. RILY Chairman and Co-CEO Bryant R Riley acquired a total of 72,727 shares an average price of $55.00. To acquire these shares, it cost around $4 million.
• What’s Happening: B. Riley Financial priced its 1,818,182 share offering at $55 per share.
• What B. Riley Financial Does: B. Riley Financial Inc is a diversified financial services company.

Friedman Industries

• The Trade: Friedman Industries, Incorporated FRD Director Durga Agrawal acquired a total of 5,000 shares at an average price of $16.32. To acquire these shares, it cost around $81,600.
• What’s Happening: Friedman Industries reported a year-over-year increase in fourth-quarter EPS and revenues.
• What Friedman Industries Does: Friedman Industries Inc is engaged in the manufacturing and processing of steel products.

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Asana

• The Trade: Asana, Inc. ASAN President, CEO and Chair Dustin Moskovitz bought a total of 160,000 shares at an average price of $22.20. To acquire these shares, it cost around $3.55 million.
• What’s Happening: Asana reported better-than-expected first-quarter financial results.
• What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.

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