12 Stocks Insiders are Buying Now

In this article, we will look at the 12 stocks insiders are buying now.

Investing in stocks that insiders are buying can sometimes lead to unexpected gains. Insiders, such as company executives, board members, and major shareholders, often have access to valuable information about the company that can provide insight into the company’s future performance. For example, they may be privy to information about upcoming product launches, financial performance, or strategic partnerships. As such, when insiders purchase stock in a company, it can be seen as a vote of confidence in the company’s prospects.

Investors should, however, be aware that there are legal restrictions on insider trading, as well as limitations on the information that insiders can share. Additionally, it is important to note that insider buying is not always indicative of a company’s future success. Insiders may buy stock for a variety of reasons, from diversifying their portfolios to taking advantage of short–term market swings. As such, it is important for investors to do their own research and analysis before investing in stocks that insiders are buying.

When looking into stocks that insiders are buying, it is important to look at the size of the transactions. Generally speaking, the bigger the transaction size, the more likely it is to be meaningful. It is also important to pay attention to who is buying the stock. For example, if the CEO is buying a lot of shares, it might be a sign that the company is about to announce something positive. It is also important to look at the overall trend of insider buying. If there is a pattern of consistent insider buying over a period of time, it may be a sign that the company is on the verge of something big.

It is also important to remember that insider buying is not a guarantee of a stock going up in price. It is simply one indicator that a stock may be undervalued and ready to go up. As with any investment, it is important to do your own research and make sure you understand the business you’re investing in. We have compiled a list of 12 stocks that insiders are buying right now which include AMERCO (NASDAQ:UHAL), Freshworks Inc. (NASDAQ:FRSH), and Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY). Continue reading to explore similar stocks.

Photo by Nick Chong on Unsplash

Our Methodology

We used Insider Monkey’s data screener to find stocks that have been purchased by corporate executives over the past 15 days. We preferred stocks with the highest transaction amounts for this list. Along with each stock, we have mentioned the hedge fund sentiment, analyst ratings, and insider purchase details. These stocks are ranked in ascending order of the filing dates.

Stocks Insiders are Buying Now

12. Enviva Partners, LP (NYSE:EVA)

Number of Hedge Fund Holders: 12

Enviva Partners, LP (NYSE:EVA) is a leading producer and distributor of utility-grade wood pellets for use in power generation, and combined heat and power plants. At the close of Q3 2022, 12 hedge funds were long Enviva Partners, LP (NYSE:EVA) and held stakes worth $368.3 million in the company. This is compared to 11 positions in the previous quarter with stakes worth $330.7 million.

This October, Raymond James analyst Pavel Molchanov upgraded Enviva Partners, LP (NYSE:EVA) to Strong Buy from Outperform and reiterated his $80 price target. On November 29, RBC Capital analyst Elvira Scotto revised his price target on Enviva Partners LP (NYSE:EVA) to $63 from $76 and maintained a Sector Perform rating on the shares.

Eviva Partners, LP (NYSE:EVA) is a stock that insiders are piling into right now. Earlier this month, Enviva Partners, LP (NYSE:EVA) reported that director Jeffrey W Ubben acquired 228,697 shares of the company’s common stock at $54.78 per share. The transaction was valued at $12.52 million.

Other popular stocks that insiders are pouring hefty investments into right now include AMERCO (NASDAQ:UHAL), Freshworks Inc. (NASDAQ:FRSH), and Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY).

11. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Number of Hedge Fund Holders: 39

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a clinical-stage biotechnology company focused on the development of novel cancer immunotherapy products. On December 2, the company disclosed that director Wayne P Rothbaum acquired 10,000,000 common shares of the company at $6.50 each for a transaction amount of $65 million. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is one of the stocks that insiders are buying right now.

On November 21, JMP Securities analyst Reni Benjamin revised his price target on Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) to $21 from $25 and maintained an Outperform rating on the shares.

At the end of the third quarter of 2022, 39 hedge funds disclosed stakes in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA). These stakes were valued at $396.8 million. As of September 30, Perceptive Advisors is the top investor in the company and has a position worth $10.24 million.

10. ModivCare Inc. (NASDAQ:MODV)

Number of Hedge Fund Holders: 19

ModivCare Inc. (NASDAQ:MODV) is a technology-enabled health services company that provides comprehensive, managed physical, and behavioral health care services in the United States. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and the Matrix Investment. On November 4, Barrington analyst Michael Petusky revised his price target on ModivCare Inc. (NASDAQ:MODV) to $138 from $157 and maintained an Outperform rating on the shares.

On December 5, ModivCare Inc. (NASDAQ:MODV) disclosed that director Coliseum Capital Management, Llc purchased 90,743 common shares of the company at $76.09 each. The transaction was valued at $6.9 million. ModivCare Inc. (NASDAQ:MODV) is one of the stocks that insiders are buying right now.

At the end of Q3 2022, 19 hedge funds were bullish on ModivCare Inc. (NASDAQ:MODV) and disclosed positions worth $275.8 million in the company. This is compared to 17 hedge funds in the previous quarter with stakes worth $229.5 million. The hedge fund sentiment for the stock is positive.

9. Aura Biosciences, Inc. (NASDAQ:AURA)

Number of Hedge Fund Holders: 6

Aura Biosciences, Inc. (NASDAQ:AURA) is a biotechnology company that is focused on developing treatments for cancer. The company uses its proprietary platform to create therapies that target the underlying causes of diseases to prevent the progression of vision loss. As of December 15, Aura Biosciences, Inc. (NASDAQ:AURA) is worth $440.5 million on the open market.

Recently, Aura Biosciences, Inc. (NASDAQ:AURA) disclosed that major shareholder Matrix Capital Management bought 1.25 million common shares of the company at $12 each. The transaction was valued at $15 million. Aura Biosciences, Inc. (NASDAQ:AURA) is placed among the stocks that insiders are piling into right now.

At the end of Q3 2022, 6 hedge funds were long Aura Biosciences, Inc. (NASDAQ:AURA) and disclosed positions worth $168.2 million. This is compared to 7 positions in the preceding quarter with stakes worth $128.8 million. As of September 30, Matrix Capital Management is the dominant investor in the company with stakes worth $74.5 million.

8. The Howard Hughes Corporation (NYSE:HHC)

Number of Hedge Fund Holders: 25

The Howard Hughes Corporation (NYSE:HHC) is a leading real estate development company that owns, manages, and develops commercial, residential, and hospitality operating properties in the United States. At the end of Q3 2022, 25 hedge funds were eager on The Howard Hughes Corporation (NYSE:HHC) and held stakes worth $875.8 million in the company. Of those, Pershing Square was the top investor in the company with a position worth $754.4 million.

Earlier this month, The Howard Hughes Corporation (NYSE:HHC) reported in a regulatory filing that director Pershing Square purchased 657,160 shares of the company’s common stock at $75.26 per share. The transaction was valued at $49.45 million. The Howard Hughes Corporation (NYSE:HHC) is one of the stocks that insiders are buying right now.

On October 7, Piper Sandler analyst Alexander Goldfarb updated his price target on The Howard Hughes Corporation (NYSE:HHC) to $81 from $100 and maintained an Overweight rating on the shares.

Here is what Rhizome Partners had to say about The Howard Hughes Corporation (NYSE:HHC) in its third-quarter 2022 investor letter:

“The Howard Hughes Corporation (NYSE:HHC) reported strong results in its various business segments in the second quarter. Net operating income in the operating assets was up 14.6% year over year, with strong rent growth and leasing momentum in the multi-family assets. The land-sale business earned $71.3 million and has yet to slow down despite higher mortgage rates. The condo towers in Hawaii are selling, with Koula 96.3% presold and Victoria Place fully sold out. The closing of Koula condo units should generate over $200 million of cash flow in the second half of 2022. Fashion-brand Alexander Wang signed a 46,000-square-foot lease in the Fulton Market Building at the South Street Seaport. We believe this lease could increase the net operating income (NOI) by up to $4 million a year. My wife and I attended the official opening of the Tin Building at the seaport in late September. Acclaimed chef Jean-Georges Vongerichten has curated a great collection of food offerings. The Tin Building adds an exciting new feature to the seaport, further strengthening the ecosystem. We believe that the seaport could potentially flip from losing $20 million a year to generating over $25 million in NOI by 2024. That amount would still be below the original projection, but it would be nice to turn a thorn in the investor’s flesh into a cash flowing asset. With all the restaurants and offerings available, we believe the South Street Seaport can drive exceptional rent growth over time.”

7. Datadog, Inc. (NASDAQ:DDOG)

Number of Hedge Fund Holders: 74

Earlier this month, in a regulatory filing Datadog, Inc. (NASDAQ:DDOG) reported that director Matthew Jacobson acquired 192,154 shares of the company’s common stock at $69.35 per share. The transaction was valued at over $13 million. Datadog, Inc. (NASDAQ:DDOG) is ranked among the stocks that insiders are piling into right now.

On December 15, Wedbush analyst Taz Koujalgi took coverage of Datadog, Inc. (NASDAQ:DDOG) with an Outperform rating and a $101 price target.

At the end of the third quarter of 2022, 74 hedge funds held stakes in Datadog, Inc. (NASDAQ:DDOG). The total value of these stakes amounted to $2.56 billion. As of September 30, Tiger Global Management LLC is the largest shareholder in the company and has stakes worth $512 million.

Here is what Baron Funds had to say about Datadog, Inc. (NASDAQ:DDOG) in its third-quarter 2022 investor letter:

“Similarly, we continued scaling up our investment in Datadog, Inc. (NASDAQ:DDOG), recognizing significant opportunities for the long term, while the majority of investors remain preoccupied with the here and now. While the company may see some short-term headwinds to growth (the company reported seeing some impact to its volume-driven logs and Application Performance Management modules), long-term prospects remain bright, in our view. Datadog reported a best-in-class gross retention rate in the “mid-to-high 90s%,” 74% year-over-year revenue growth, and 21% adjusted operating margins.”

Stocks that are popular among elite institutional investors and insiders include Datadog, Inc. (NASDAQ:DDOG), AMERCO (NASDAQ:UHAL), Freshworks Inc. (NASDAQ:FRSH), and Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY).

6. Atlanticus Holdings Corporation (NASDAQ:ATLC)

Number of Hedge Fund Holders: 5

Atlanticus Holdings Corporation (NASDAQ:ATLC) provides financing and payment solutions to customers in the United States. The company operates through two segments: Credit as a Service and Auto Finance. On October 7, B. Riley analyst Matt Howlett took over coverage of Atlanticus Holdings Corporation (NASDAQ:ATLC) with his $50 price target and a Buy rating.

Earlier this month, Atlanticus Holdings Corporation (NASDAQ:ATLC) disclosed in a regulatory filing that executive chairman David G Hanna purchased 325,000 common shares of the company at $27.15 each. The transaction was valued at over $8.8 million. Atlanticus Holdings Corporation (NASDAQ:ATLC) is one of the stocks that insiders are buying right now.

At the end of Q3 2022, 5 hedge funds were long Atlanticus Holdings Corporation (NASDAQ:ATLC) and disclosed positions worth $6 million in the company. Of those, Renaissance Technologies was the top shareholder in the company and held a position worth $4.2 million.