Insiders buy Kennedy-Wilson, HF Sinclair and this casino stock

Although US stocks traded sharply lower on Friday, there were a few notable insider trades.

When insiders buy stocks, it indicates their confidence in a company's prospects or that they view the stock as a good deal. Either way, this signals an opportunity to go long on the title. Insider buying should not be considered the sole indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is an overview of some recent notable insider buys. For more information, see the Benzinga Insider Trading platform.

HF Sinclair The Trade: Franklin Myers, Director of HF Sinclair Corporation DINO, acquired a total of 7,250 shares at an average price of $55.94. To acquire these shares, it cost approximately 405.56 thousand dollars. What's Happening: HF Sinclair recently announced a 2.4 million share buyback for $51.95 per share. What HF ​​Sinclair does: HF Sinclair is an integrated petroleum refiner that owns and operates seven refineries serving the Rockies, Midcontinent, Southwest and Pacific Northwest, with full crude oil throughput capacity of 678,000 barrels per day. MGM Resorts International The Trade: Janet Swartz, Director of MGM Resorts International MGM, acquired a total of 14,230 shares at an average price of $35.05. To acquire these shares, it cost approximately $498.78 thousand. What's happening: MGM China Holdings, a unit of MGM Resorts International, plans to invest $594 million in its casino operator in Macau, The Wall Street Journal reported. What MGM Resorts International does: MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 rooms and suites, which is about a quarter of all units in the market.

Be sure to check out our pre-market coverage here.

Also check this: AMD and 2 other stock insiders are selling

Kennedy-Wilson Holdings The Trade: Kennedy-Wilson Holdings, Inc. KW Director Stanley R Zax bought a total of 35,000 shares at an average price of $18.15. To acquire these shares, it cost approximately 635.25 thousand dollars. What's going on ? Kennedy-Wilson recently posted a loss of $0.07 per share in the second quarter. What Kennedy-Wilson does: Kennedy-Wilson Holdings Inc is a global real estate investment company that owns, operates and invests in real estate, alone and through its investment management platform.

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