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 Children's Place Retail Stores, Inc. (NASDAQ:PLCE), a filing with the SEC revealed that on Friday, Director Norman S. Matthews bought 15,000 shares of PLCE, at a cost of $44.57 each, for a total investment of $668,550. Matthews was up about 9.6% on the purchase at the high point of today's trading session, with PLCE trading as high as $48.83 at last check today. Children's Place Retail Stores, Inc. is trading up about 2.8% on the day Tuesday.
And also on Friday, Director William M. Webster IV bought $176,900 worth of LKQ Corp (NASDAQ:LKQ), buying 5,000 shares at a cost of $35.38 each. Before this latest buy, Webster IV made one other buy in the past year, purchasing $171,100 shares at a cost of $34.22 each. LKQ Corp is trading up about 1.4% on the day Tuesday. Investors can snag LKQ even cheaper than Webster IV did, with the stock changing hands as low as $34.69 in trading on Tuesday which is 1.9% below Webster IV's purchase price.
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.