$1M Bet On Mobileye Global? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed higher on Thursday, 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.

Barnes Group

• The Trade: Barnes Group Inc B President and CEO Thomas J Hook acquired a total of 125,000 shares an average price of $20.98. To acquire these shares, it cost around $2.62 million.
• What’s Happening: Barnes Group reported worse-than-expected third-quarter adjusted EPS results and lowered FY23 adjusted EPS guidance below estimates.
• What Barnes Group Does: Barnes Group Inc is a U.S. based industrial and aerospace manufacturer and service provider. The company operates through two segments: Industrial and Aerospace.

Mobileye Global

• The Trade: Mobileye Global Inc MBLY Director Claire McCaskill acquired a total of 27,819 shares at an average price of $35.95. To acquire these shares, it cost around $1 million.
• What’s Happening: Mobileye Global posted upbeat earnings for the third quarter.
• What Mobileye Global Does: Mobileye Global Inc engages in the development and deployment of ADAS and autonomous driving technologies and solutions.

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American Strategic Investment

• The Trade: American Strategic Investment Co. NYC 10% owner New York City Advisors LLC bought a total of 223,460 shares at an average price of $10.25. To acquire these shares, it cost around $2.29 million.
• What’s Happening: American Strategic Investment completed the sale of the property it owns at 421 W. 54Th Street (The Hit Factory) for $4.5 million.
• What American Strategic Investment Does: American Strategic Investment Co is an externally managed company that currently owns a portfolio of commercial real estate located within the five boroughs of New York City, majorly Manhattan.

Donegal Group

• The Trade: Donegal Group Inc DGICA 10% owner Donegal Mutual Insurance Co bought a total of 13,545 shares at an average price of $14.24. The insider spent around $192,935 to buy those shares.
• What’s Happening: Donegal posted weaker-than-expected earnings for its third quarter.
• What Donegal Group Does: Donegal Group Inc is an insurance holding company that offers personal and commercial lines of property and casualty insurance to businesses and individuals.

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