4 Penny Stocks Insiders Are Buying
When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.
Spark Networks
The Trade: Spark Networks SE (NYSE: LOV) Director Joseph Whitters acquired a total of 27500 shares at an average price of $3.19. To acquire these shares, it cost $87,725.00.
What’s Happening: Spark Networks recently named Colleen Brown as Non-Executive Chair.
What Spark Networks Does: Spark Networks operates a global online dating site. Its focus is on catering to professionals and educated singles with serious relationship intentions in North America and other international markets.
PHX Minerals
The Trade: PHX Minerals Inc. (NYSE: PHX) 10% owner Edenbrook Capital Llc, Jonathan Brolin acquired a total of 49523 shares shares at an average price of $2.44. The insider spent $120,784.51 to buy those shares.
What’s Happening: PHX Minerals, last month, reported at-the-market equity offering sales program with Stifel for up to 3 million shares.
What PHX Minerals Does: PHX Minerals, previously Panhandle Oil & Gas, is an oil and natural gas mineral company that has employed a strategy to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership.
ServiceSource International
The Trade: ServiceSource International, Inc. (NASDAQ: SREV) 10% owner Edenbrook Capital Llc, Jonathan Brolin acquired a total of 30000 shares at an average price of $1.41. To acquire these shares, it cost $42,235.00.
What’s Happening: ServiceSource, during July, reported a Q2 loss of $0.01 per share.
What ServiceSource International Does: ServiceSource International is a provider of customer and revenue lifecycle management solutions.
Marchex
The Trade: Marchex, Inc. (NASDAQ: MCHX) 10% owner Edenbrook Capital Llc, Edenbrook Long Only Value Fund Lp, Jonathan Brolin acquired a total of 44654 shares at an average price of $3.04. To acquire these shares, it cost $135,819.11.
What’s Happening: Marchex, last month, posted upbeat results for the second quarter.
What Marchex Does: Marchex is a conversational analytics and solutions company that helps businesses connect, drive, measure, convert callers into customers, and connects the voice of the customer to their business.
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