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 Pinnacle Entertainment Inc (NYSE:PNK), a filing with the SEC revealed that on Thursday, CEO Anthony Michael Sanfilippo bought 25,100 shares of PNK, for a cost of $9.64 each, for a total investment of $242,044. So far Sanfilippo is in the green, up about 14.3% on their purchase based on today's trading high of $11.02. Pinnacle Entertainment Inc is trading up about 4.2% on the day Tuesday. Before this latest buy, Sanfilippo bought PNK on 9 other occasions during the past twelve months, for a total investment of $2.98M at an average of $10.40 per share.
And at Texas Industries Inc. (TXI), there was insider buying on Thursday, by Director Thomas L. Ryan who purchased 2,000 shares at a cost of $41.29 each, for a trade totaling $82,580. Texas Industries Inc. is trading off about 3.5% on the day Tuesday. Ryan was up about 6.4% on the buy at the high point of today's trading session, with TXI trading as high as $43.93 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.