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.
At Reynolds Consumer Products, a filing with the SEC revealed that on Thursday, Director Gregory Alan Cole purchased 7,000 shares of REYN, at a cost of $29.78 each, for a total investment of $208,462.
Cole was up about 3.5% on the purchase at the high point of today's trading session, with REYN trading as high as $30.83 in trading on Friday.
Reynolds Consumer Products is trading up about 2.1% on the day Friday.
And also on Thursday, CEO and Director Robert W.
Pittman purchased $202,952 worth of iHeartMedia, purchasing 20,000 shares at a cost of $10.15 a piece.
Before this latest buy, Pittman made one other buy in the past year, purchasing $49,904 shares at a cost of $10.85 a piece.
IHeartMedia is trading up about 4.9% on the day Friday.