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.
At Blackrock Incorporated (NYSE:BLK), a filing with the SEC revealed that on Friday, Director John S. Varley bought 427 shares of BLK, for a cost of $233.59 each, for a total investment of $99,742. So far Varley is in the green, up about 1.2% on their purchase based on today's trading high of $236.43. Blackrock Incorporated is trading up about 0.7% on the day Tuesday. This purchase marks the first one filed by Varley in the past year.
And at Kronos Worldwide Inc (NYSE:KRO), there was insider buying on Friday, by Director Glenn R. Simmons who purchased 5,000 shares for a cost of $19.18 each, for a trade totaling $95,875. Before this latest buy, Simmons purchased KRO on 4 other occasions during the past year, for a total cost of $312,988 at an average of $17.83 per share. Kronos Worldwide Inc is trading down about 0.1% on the day Tuesday. So far Simmons is in the green, up about 5.1% on their buy based on today's trading high of $20.15.
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