5 Penny Stocks with Insider Buying

In this piece, we will take a look at five penny stocks with insider buying. For more penny stocks, head on over to 10 Penny Stocks with Insider Buying.

5. Franklin Street Properties Corp. (NYSE:FSP)

Total Value of Insider Purchases: ~$445,000

Number of Hedge Fund Investors in Q4 2022: 12

Franklin Street Properties Corp. (NYSE:FSP) is a real estate investment trust (REIT) that is headquartered in Wakefield, Massachusetts. The firm focuses primarily on office properties in the Mountain West and Sunbelt.

Two Franklin Street Properties Corp. (NYSE:FSP) directors cumulatively bought 200,000 shares of the company in March 2023 that are approximately worth$445,000. The firm’s fourth quarter of 2022 results reported in February 2023 saw it beat Wall Street estimates for its funds from operations (FFO) by two cents as it posted 10 cents for the metric. As of Q4 2022, 12 of the 943 hedge funds polled by Insider Monkey had invested in Franklin Street Properties Corp. (NYSE:FSP).

Franklin Street Properties Corp. (NYSE:FSP)’s largest investor in our database is Eli Samaha’s Madison Avenue Partners which owns five million shares that are worth $13 million.

4. iHeartMedia, Inc. (NASDAQ:IHRT)

Total Value of Insider Purchases: $1.05 million

Number of Hedge Fund Investors in Q4 2022: 27

iHeartMedia, Inc. (NASDAQ:IHRT) is a media and entertainment company headquartered in San Antonio, Texas. The firm operates a radio service, newsletters, and other services.

iHeartMedia, Inc. (NASDAQ:IHRT)’s insiders cumulatively bought roughly close to two hundred thousand shares of the firm for approximately $1.05 million in March 2023. 27 of the 943 hedge funds polled by Insider Monkey had held a stake in the company in Q4 2022.

Out of these, Edward A. Mule’s Silver Point Capital is iHeartMedia, Inc. (NASDAQ:IHRT)’s largest shareholder. It owns 5.5 million shares that are worth $33 million.

3. OPKO Health, Inc. (NASDAQ:OPK)

Total Value of Insider Purchases: ~$1.1 million

Number of Hedge Fund Investors in Q4 2022: 15

OPKO Health, Inc. (NASDAQ:OPK) is an American healthcare company headquartered in Miami, Florida. The firm provides laboratory testing services, diagnostics for cancer, and treatments for hyperthyroidism.

OPKO Health, Inc. (NASDAQ:OPK)’s chief executive officer Mr. Phillip Frost bought one million shares for $1.1 million in March 2023. As part of their December quarter of 2022 investments, 15 of the 943 hedge funds polled by Insider Monkey had invested in the company.

OPKO Health, Inc. (NASDAQ:OPK)’s largest investor in our database is D.E. Shaw’s D E Shaw which owns 5.7 million shares that are worth $7.2 million.

2. Flotek Industries, Inc. (NYSE:FTK)

Total Value of Insider Purchases: ~$3.4 million

Number of Hedge Fund Investors in Q4 2022: 6

Flotek Industries, Inc. (NYSE:FTK) is an oil and gas industry services provider that provides a data analytics platform and specialty chemicals to sanitize operations. The company is based in Houston, Texas.

Flotek Industries, Inc. (NYSE:FTK)’s minority owner ProFrac bought 1.5 million shares of the company for $3.4 million at the end of December last year. Six of the 943 hedge funds surveyed by Insider Monkey had held a stake in the company in Q4 2022.

Flotek Industries, Inc. (NYSE:FTK)’s largest investor is David Nierenberg’s Nierenberg Investment Management which owns 7.7 million shares that are worth $8.7 million.

1. Summit Therapeutics Inc. (NASDAQ:SMMT)

Total Value of Insider Purchases: ~$419 million

Number of Hedge Fund Investors in Q4 2022: 8

Summit Therapeutics Inc. (NASDAQ:SMMT) is a biotechnology firm headquartered in Cambridge, Massachusetts. The firm develops treatments for infectious diseases.

Summit Therapeutics Inc. (NASDAQ:SMMT)’s Mr. Robert Duggan bought a massive 376 million shares of the company for a whopping $395 million in March 2023. A couple of days later its co-CEO bought a $16.7 million stake. As of December 2022, eight of the 943 hedge funds surveyed by Insider Monkey had owned a stake in the firm.

Disclosure: None. You can also take a look at 25 Strongest Countries in Europe by Military Power and 10 Best Stocks to Buy for Investment.

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