Benzinga | Jul 29, 2021 10:11AM EDT

2 Stocks Insiders Are Buying

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.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.Crown Castle International

The Trade: Crown Castle International Corp. (NYSE:CCI) Director J. Landis Martin acquired a total of 11200 shares at an average price of $191.51. The insider spent $2,144,857.64 to buy the stock.

What's Happening: Crown Castle International recently issued downbeat FY21 sales forecast. The company's shares have surged over 24% since the start of the year.

What Crown Castle International Does: Crown Castle International owns and leases roughly 40,000 cell towers in the United States.Catalent

The Trade: Catalent, Inc. (NASDAQ:CTLT) Chairman and CEO John Chiminski acquired a total of 16461 shares . The insider also sold a total of 11137 shares at an average price of $113.05.

What's Happening: Catalent recently said it will begin the first phase of a planned $100 million expansion at its facility in Anagni, Italy, to add biologics drug substance manufacturing capabilities.

What Catalent Does: Catalent Inc is a specialty and generic drug manufacturing company.