Insiders Buying Incyte And 2 More Stocks

Although U.S. stock futures traded higher this morning after recording losses 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.

Incyte

• The Trade:Incyte Corporation Director Felix Baker acquired a total of 525,804 shares at an average price of $67.96. To acquire these shares, it cost around $35.73 million.
• What’s Happening:The company recently reported a sharp decline in Q4 earnings per share.
• What Incyte Does:Incyte focuses on the discovery and development of small-molecule drugs.

Insight Enterprises

• The Trade:Insight Enterprises, Inc. Director ValueAct Holdings GP, LLC acquired a total of 131,006 shares at an average price of $99.34. To acquire these shares, it cost around $13.01 million.
• What’s Happening:The company recently posted upbeat quarterly results.
• What Insight Enterprises Does:Insight Enterprises Inc is a Fortune 500 global IT provider primarily engaged in helping businesses of all sizes, large enterprises, governments, schools, and health care organizations.

IAA

• The Trade:IAA, Inc. Director Peter Kaminbought a total of 142,100 shares at an average price of $35.56. To acquire these shares, it cost around $5.05 million.
• What’s Happening:IAA recently reported worse-than-expected Q4 EPS results.
• What IAA Does:IAA Inc provides auction solutions for total loss, damaged and low-value vehicles. It facilitates the selling and purchasing of vehicles from a variety of resources, including insurance carriers, used-vehicle dealers, rental car and fleet lease companies, dealerships and more.