Executives Buying Global Partners And 2 Other Stocks

Although U.S. stocks closed mixed 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.

BJ’s Wholesale

• The Trade: BJ’s Wholesale Club Holdings, Inc. BJ Director Steven L Ortega  acquired a total of 2,455 shares at an average price of $81.26. To acquire these shares, it cost around $199,493.
• What's Happening: On Aug. 22, BJ's Wholesale reported better-than-expected second-quarter financial results. Revenue growth of 4.9% Y/Y to $5.205 billion, beating the analyst consensus estimate of $5.145 billion. Total comparable club sales increased by 3.1%. Comparable club sales, excluding gasoline sales, increased by 2.4%.
• What BJ’s Wholesale Does: BJ’s Wholesale serves as one of the few warehouse club chains in the United States.

Global Partners

• The Trade: Global Partners LP GLP Global GP LLC acquired a total of 12,100 shares at an average price of $43.07. To acquire these shares, it cost around $521,110.
• What's Happening: On Aug. 7, Global Partners reported downbeat second-quarter results.
• What Global Partners Does: Global Partners LP is an U.S.-based limited partnership that acts as a midstream logistics and marketing company.

SR Bancorp

• The Trade: SR Bancorp, Inc. SRBK Director Marc Lebovitz bought a total of 10,200 shares at an average price of $10.15. To acquire these shares, it cost around $103,506.
• What's Happening: On July 30, SR Bancorp posted a second-quarter loss of 34 cents per share.
• What SR Bancorp Does: SR Bancorp Inc principal business is to acquire deposits from individuals and businesses in the communities surrounding offices and to use these deposits to fund loans.

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