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. Today we look at two noteworthy recent insider buys.
On Monday, White Mountains Insurance Group (NYSE:WTM)'s Chief Executive Officer, Raymond Joseph Rene Barrette, made a $519,000 purchase of WTM, buying 1,000 shares at a cost of $519.00 each. So far Barrette is in the green, up about 1.2% on their buy based on today's trading high of $525.00. White Mountains Insurance Group, Ltd. is trading down about 0.5% on the day Thursday. Before this latest buy, Barrette bought WTM at 2 other times during the past year, for a total cost of $916,978 at an average of $516.32 per share.
And at Visteon (NASDAQ:VC), there was insider buying on Monday, by Director Harry James Wilson who purchased 2,500 shares at a cost of $50.40 each, for a trade totaling $126,000. Before this latest buy, Wilson made one other buy in the past twelve months, purchasing $122,875 shares for a cost of $49.15 each. Visteon is trading up about 1.5% on the day Thursday. Wilson was up about 2.1% on the buy at the high point of today's trading session, with VC trading as high as $51.44 in trading on Thursday.
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