Ex-Dividend Reminder: INSW, WGO and NWS Friday, September 8, 10:01 AM ET, by Market News Video Staff On 9/12/23, International Seaways Inc (INSW), Winnebago Industries, Inc. (WGO), and News Corp (NWS) will ...
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $12M by Keith Rupert Murdoch, Executive Chairman at News Corp (NASDAQ:NWS).
Murdoch bets big on NWS:
Purchased
Insider
Title
Shares
Price/Share
Value
03/05/2021
Keith Rupert Murdoch
Executive Chairman
500,000
$24.09
$12,044,800.00
Murdoch's average cost works out to $24.09/share. Shares of News Corp were changing hands at $24.79 at last check, trading down about 0.5% on Monday. The chart below shows the one year performance of NWS shares, versus its 200 day moving average:
Looking at the chart above, NWS's low point in its 52 week range is $7.875 per share, with $25.03 as the 52 week high point — that compares with a last trade of $24.79.
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