As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At DuPont (NYSE:DD), a filing with the SEC revealed that on Monday, Director Edward D. Breen purchased 13,000 shares of DD, for a cost of $77.39 each, for a total investment of $1.01M. So far Breen is in the green, up about 0.9% on their purchase based on today's trading high of $78.08. DuPont is trading down about 0.2% on the day Thursday.
And on Tuesday, Director H. B. Wehrle III bought $637,500 worth of MRC Global (NYSE:MRC), buying 50,000 shares at a cost of $12.75 each. Before this latest buy, Wehrle III made one other buy in the past twelve months, purchasing $849,095 shares for a cost of $16.98 each. MRC Global is trading up about 4.9% on the day Thursday. Wehrle III was up about 8.2% on the purchase at the high point of today's trading session, with MRC trading as high as $13.80 at last check today.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.