The Dow Jones closed higher by around 200 points on Friday. Investors, meanwhile, focused on some notable insider trades.
When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform.3
- The Trade: Cumberland Pharmaceuticals Inc. CPIX Director Joseph C Galante bought a total of 1,625 shares at an average price of $2.49. To acquire these shares, it cost around $4.05 thousand.
- What’s Happening: The company recently posted a profit for the third quarter.
- What Cumberland Pharmaceuticals Does: Cumberland Pharmaceuticals, headquartered in Nashville, Tennessee, is a specialty pharmaceutical company.
- The Trade: Newpark Resources, Inc. NR Director Claudia M. Meer acquired a total of 5,000 shares at at an average price of $3.96. The insider spent around $19.78 thousand to buy those shares.
- What’s Happening: Newpark Resources recently posted Q3 EPS of $0.06.
- What Newpark Resources Does: Newpark Resources, incorporated in 1932, provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry.
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Bimini Capital Management
- The Trade: Bimini Capital Management, Inc. BMNM CEO Robert E Cauley acquired a total of 50,000 shares at an average price of $1.05. To acquire these shares, it cost around $52.74 thousand.
- What’s Happening: Orchid Island Capital recently reported third amendment to mgmt. deal with Bimini Capital.
- What Bimini Capital Management Does: Bimini Capital Management, headquartered in Vero Beach, Florida, engages in the asset management business in the United States.
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