Investing
Berkshire Partners Continues Insider Buying Spree: Mattress Firm, Conn's, Summit Midstream and More
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It’s always very easy to tell here at 24/7 Wall St. when earnings season starts going full throttle. Insider activity slows to a crawl as corporations halt insider transactions as they report quarterly earnings and revenue. While not every company is on the typical quarterly calendar, most are and that tends to slow things down until the second month of any given quarter.
We cover insider buying every week at 24/7 Wall St., and we like to remind our readers that while insider buying is usually a very positive sign, it is not in of itself a reason to run out and buy a stock. Sometimes insiders and 10% owners have stock purchase plans set up at intervals to add to their holdings. That aside, it still remains a positive indicator.
Here are some of the companies that reported notable insider buying this past week.
Mattress Firm Holding Corp. (NASDAQ: MFRM) hit our screens again, and the same company continues to add shares to its position. Berkshire Partners, which is a 10% owner of the company, bought an additional 74,308 shares of the stock at prices that ranged from $41.25 to $42.49 apiece. The total for this purchase came in right at $3 million. The stock closed Friday at $43.87, so the timing again looks good.
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