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 Murphy Oil Corp (NYSE:MUR), a filing with the SEC revealed that on Thursday, Director Claiborne P. Deming purchased 80,000 shares of MUR, at a cost of $60.34 each, for a total investment of $4.83M. So far Deming is in the green, up about 2.5% on their buy based on today's trading high of $61.86. Murphy Oil Corp is trading up about 1.9% on the day Friday.
And also on Thursday, Chief Executive Officer John D. Goodman bought $649,377 worth of Wet Seal, Inc. (WTSLA), buying 218,056 shares at a cost of $2.98 a piece. This purchase marks the first one filed by Goodman in the past twelve months. Wet Seal, Inc. is trading up about 3% on the day Friday. So far Goodman is in the green, up about 4.1% on their purchase based on today's trading high of $3.10.
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.