A $2.3 million bet on JELD-WEN? 3 Stocks Insiders Buy – JELD-WEN Holding (NYSE:JELD), Hooker Furnishings (NASDAQ:HOFT)

Although US stocks closed lower on Friday, 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.

JELD-WEN Holding

  • The exchange: JELD-WEN Holding, Inc. JELD 10% owner Turtle Creek Asset Management Inc. acquired a total of 240,150 shares an average price of $9.42. To acquire these shares, it cost about $2.26 million.
  • What is happening: JELD-WEN in August announced a strategic review of its Australasia business.
  • What JELD-WEN does: JELD-WEN Holding Inc is engaged in the manufacture of doors and windows.

Rocket companies

  • The exchange: Rocket Companies, Inc. RKT CEO Jay Farner acquired a total of 58,800 shares at an average price of $6.78. To acquire these shares, it cost approximately 398.79 thousand dollars.
  • What is happening: Fintech platform company Rocket Companies recently announced two major leadership changes, including the retirement of Chief Financial Officer Julie Booth.
  • What Rocket Companies does: Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit.

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

Also check this: US stock futures down after Friday’s selloff

hooker furnishing

  • The exchange: Hooker Furniture Company HOFT Director Maria C Duey purchased a total of 1,500 shares at an average price of $13.57. To acquire these shares, it cost about 20.35 thousand dollars.
  • What is happening: Hooker Furnishings last month reported second-quarter FY23 sales fell 5.9% year-on-year to $152.91 million.
  • What Hooker Furnishings does: Hooker Furnishings Corp, formerly Hooker Furniture Corp, is a designer, marketer and importer of storage, leather furniture and fabric upholstery for the residential, hospitality and contract markets.