Technology stock

(CMPO), CommScope (COMM) – A $10.2 million bet on this tech stock? 3 stocks insiders buy

Although US stocks closed lower on Monday, there were a few notable insider trades.

When insiders buy stocks, it indicates their confidence in the prospects of the company or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the title. Insider buying should not be considered the sole indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is an overview of some recent notable insider buys. To find out more, see Benzinga Insider Trading Platform.

Insight Enterprises

  • The exchange: Insight Enterprises, Inc. NSIT 10% owner ValueAct Holdings GP, LLC acquired a total of 109,465 shares during an average price of $93.49. To acquire these shares, it cost about $10.23 million.
  • What is happening: The company recently released second quarter results.
  • What Insight Enterprises does: Insight Enterprises Inc is a Fortune 500 global IT provider primarily in the business of helping businesses of all sizes, large enterprises, governments, schools and healthcare organizations.

CompoSecure

  • The exchange: CompoSecure, Inc. CMPO 10% owner Bleichroeder LP acquired a total of 500,000 shares at an average price of $5.50. To acquire these shares, it cost about $2.75 million.
  • What is happening: CompoSecure recently posted second-quarter EPS of $0.52.
  • What CompoSecure does: CompoSecure Inc is engaged in the design and manufacture of high-end financial cards. Its products include Metal Cards and Arculus, a digital security platform.

Be sure to check out our pre-market coverage here.

Also check this: Baidu, Avid Technology and A Few Other Major Stocks Rise Higher in Today’s Pre-Market Session

CommScope Holding Company

  • The exchange: CommScope Holding Company, Inc. COMMUNICATION President and CEO Charles Treadway purchased a total of 48,076 shares at an average price of $10.41. To acquire these shares, it cost approximately 500.43 thousand dollars.
  • What is happening: CommScope recently reported second-quarter FY22 net sales growth of 5.3% year-on-year to $2.30 billion, beating consensus of $2.26 billion.
  • What CommScope does: CommScope Holding Co Inc provides infrastructure services for communication networks. It helps customers increase bandwidth, maximize existing capacity, improve network performance and availability, and simplify technology migration.