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.

Six Flags Entertainment

The Trade: Six Flags Entertainment Corporation (NYSE:SIX) Director Arik W Ruchim acquired a total of 250000 shares at an average price of $37.24. To acquire these shares, it cost $9,310,290.00.
What’s Happening: Six Flags Entertainment, last month, appointed Selim Bassoul, former Non-Executive Chairman of the Board, as its CEO and President.
What Six Flags Entertainment Does: Six Flags Entertainment Corp owns and operates theme parks worldwide. It operates around 26 theme parks and waterparks, 23 are located in the United States, two are located in Mexico and one is located in Montreal, Canada.

CryoLife

The Trade: CryoLife, Inc. (NYSE:CRY) Director Anthony B Semedo acquired a total of 19992 shares at an average price of $17.36. To acquire these shares, it cost $347,061.12.
What’s Happening: The company, last month, posted downbeat quarterly results.
What CryoLife Does: Cryolife Inc is engaged in the manufacturing, processing, and distribution of medical devices and implantable human tissues used in cardiac and vascular surgical procedures focused on aortic repair.

Cano Health

The Trade: Cano Health, Inc. (NYSE:CANO) Director Solomon Trujillo bought a total of 97000 shares at an average price of $10.55. To acquire these shares, it cost $1,023,350.00.
What’s Happening: The company, last month, posted a wider-than-expected quarterly loss.
What Cano Health Does: Cano Health Inc operates value-based primary care centers and supports affiliated medical practices that specialize in primary care for seniors in Florida, Texas, Nevada, and Puerto Rico.

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