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 dollars 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 dollars to make a purchase, is that they expect to make money.
Today we look at two noteworthy recent insider buys.
On Wednesday, Red Rock Resorts (RRR)'s Chief Executive Officer, Frank J.
Fertitta III, made a $6.65M buy of RRR, purchasing 450,000 shares at a cost of $14.79 each.
So far Fertitta III is in the green, up about 6.7% on their purchase based on today's trading high of $15.78.
Red Rock Resorts is trading up about 2.8% on the day Friday.
Before this latest buy, Fertitta III purchased RRR at 8 other times during the past twelve months, for a total cost of $35.06M at an average of $16.18 per share.
And at Harley-Davidson (HOG), there was insider buying on Wednesday, by Chairman and Acting President Jochen Zeitz who bought 71,450 shares at a cost of $27.86 each, for a trade totaling $1.99M.
Before this latest buy, Zeitz bought HOG on 2 other occasions during the past twelve months, for a total cost of $3.08M at an average of $20.66 per share.
Harley-Davidson is trading off about 1.4% on the day Friday.