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.
Insider buying can be an encouraging signal for potential investors, especially when markets are near all-time highs.
The week's most notable insider buys were at a health insurer, an oil exploration and production company, and a biotech.
Some insiders were making return trips to the buy window.
Over the past 3 months, 13 analysts have published their opinion on Continental Resources (NYSE:CLR) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.