Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money.
Today we look at two noteworthy recent insider buys.
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money.
Today we look at two noteworthy recent insider buys.
On Friday, Valley National Bancorp's Director, Jennifer W.
Steans, made a $2.45M buy of VLY, purchasing 325,000 shares at a cost of $7.54 each.
Investors are able to bag VLY at a price even lower than Steans did, with the stock changing hands as low as $6.71 in trading on Monday -- that's 11.0% below Steans's purchase price.
Valley National Bancorp is trading off about 8% on the day Monday.
This purchase marks the first one filed by Steans in the past twelve months.
And also on Friday, Director Murry Gerber bought $1.06M worth of Halliburton, buying 155,763 shares at a cost of $6.78 each.
This purchase marks the first one filed by Gerber in the past twelve months.
Halliburton is trading off about 10.6% on the day Monday.