Benzinga’s Insider Buys Of The Week: Abbott Labs, Hain Celestial, Parsley Energy And More

  • Insider buying can be an encouraging signal for potential investors.
  • Energy, health care and consumer goods companies saw notable insider buying this past week.
  • Insiders took advantage of public offerings and last week's volatility to buy.

Conventional wisdom says insiders and 10 percent owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty.

Here's a look at some notable insider purchases reported in the past week.

Hain Celestial

Hain Celestial Group Inc (NASDAQ: HAIN) had a director acquire more than 1.40 million shares. At a per-share price of about $34.83, the total value of those transactions came to more than $49.02 million. Note that Welling is principal and chief investment officer at Engaged Capital.

The CEO of this maker of organic and natural products recently talked up its focus on e-commerce. The shares are down about 17 percent year to date and ended this past Friday's trading at $34.75 apiece, which is still near the director's purchase price. The stock traded as high as about $42 in the past year.

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