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.
On Tuesday, Echo Global Logistics Inc (NASDAQ:ECHO)'s Director, John R. Walter, made a $942,096 purchase of ECHO, buying 50,639 shares at a cost of $18.60 a piece. So far Walter is in the green, up about 6.0% on their buy based on today's trading high of $19.73. Echo Global Logistics Inc is trading up about 3.8% on the day Wednesday.
And at Kronos Worldwide Inc (NYSE:KRO), there was insider buying on Tuesday, by Director Glenn R. Simmons who bought 15,000 shares at a cost of $17.49 each, for a trade totaling $262,393. Before this latest buy, Simmons bought KRO on 6 other occasions during the past year, for a total investment of $603,438 at an average of $18.54 per share. Kronos Worldwide Inc is trading off about 0.7% on the day Wednesday.
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.