Over $1M Bet On EchoStar? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed lower 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.

Greif

• The Trade: Greif, Inc. GEF EVP and CFO Lawrence A. Hilsheimer acquired a total of 7,363 shares an average price of $65.06. To acquire these shares, it cost around $479,067.
• What’s Happening: On Feb. 28, Greif posted upbeat quarterly earnings.
• What Greif Does: Greif Inc is a producer of industrial packaging products and services with manufacturing facilities located in many countries.

EchoStar

• The Trade: EchoStar Corporation SATS Director James Defranco acquired a total of 90,000 shares at an average price of $13.21. To acquire these shares, it cost around $1.19 million.
• What’s Happening: On Feb. 29, EchoStar reported a year-over-year decrease in fourth-quarter EPS results.
• What EchoStar Does: Following the Dish Network merger, satellite television provides the bulk of EchoStar's revenue. The firm serves about 7 million U.S. customers, about 10% of the traditional television market.

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Middlesex Water

• The Trade: Middlesex Water Company MSEX Director James F.. Cosgrove Jr bought a total of 1,600 shares at an average price of $51.70. To acquire these shares, it cost around $82,720.
• What’s Happening: On Feb. 29, Middlesex Water posted downbeat quarterly results.
• What Middlesex Water Does: Middlesex Water Co owns and operates regulated water utility and wastewater systems in the U.S. The firm primarily operates in the eastern states of New Jersey, Delaware, and Pennsylvania.

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