This is the Market News Video Insider Buying Report for Tuesday, November 22, 2011 -- I'm Sayoko Murase. 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. There are four noteworthy recent buys in today's report.
At CTC Media Inc (CTCM), a filing with the SEC revealed that on Friday, Director Peter Aven bought 163,808 shares of CTCM, at a cost of $9.74 each, for a total investment of $1.6M. Investors have the opportunity to pick up CTCM even cheaper than Aven did, with shares changing hands as low as $9.10 at last check today -- that's 6.6% under Aven's purchase price. CTC Media Inc is trading off about 0.8% on the day Tuesday. Before this latest buy, Aven made one other purchase in the past twelve months, buying $2.99M shares at a cost of $19.86 each. No other insiders have filed purchases of CTCM in the past year.
And on Monday, Director Edward J McKinley bought $1.04M worth of Clovis Oncology Incorporated (CLVS), buying 79,857 shares at a cost of $13.00 each. In the past twelve months, 13 other insiders bought CLVS, in 13 transactions, for a total cost of $85.66M at an average of $13.00 per share. Clovis Oncology Incorporated is trading down about 0.3% on the day Tuesday. Bargain hunters are able to buy CLVS even cheaper than McKinley did, with the stock trading as low as $12.45 at last check today which is 4.2% below McKinley's purchase price.
On Thursday, an SEC filing shows that Andrew Miles Snyder, Director of InfoSpace Inc. (NYSE:INSP) made a purchase valued at $617,489, buying 71,700 shares at $8.61 a piece. Investors are able to pick up INSP at a price even lower than Snyder did, with shares trading as low as $8.33 at last check today -- that's 3.3% below Snyder's purchase price. This purchase marks the first one filed by Snyder in the past year. InfoSpace Inc. is trading up about 1.3% on the day Tuesday.
And finally we turn to Valhi, Inc. (NYSE:VHI), where Chairman of the Board Harold C Simmons filed a $563,750 buy made Thursday, purchasing 10,000 shares for $56.38 a piece. Bargain hunters can bag VHI even cheaper than Simmons did, with the stock changing hands as low as $53.28 at last check today which is 5.5% under Simmons's purchase price. Before this latest buy, Simmons bought VHI on 38 other occasions during the past year, for a total investment of $20.13M at an average of $53.94 per share. Valhi, Inc. is trading up about 3.2% on the day Tuesday.
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