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 Churchill Downs, Inc. (NASDAQ:CHDN), a filing with the SEC revealed that on Wednesday, Director Richard L. Duchossois bought 16,573 shares of CHDN, at a cost of $66.97 each, for a total investment of $1.11M. Duchossois was up about 3.4% on the buy at the high point of today's trading session, with CHDN trading as high as $69.27 at last check today. Churchill Downs, Inc. is trading up about 2.6% on the day Friday. Before this latest buy, Duchossois made one other buy in the past year, purchasing $112,105 shares at a cost of $65.94 a piece.
And at Ulta Salon Cosmetics & Fragrance Inc. (NASDAQ:ULTA), there was insider buying on Wednesday, by Director Charles J. Philippin who purchased 10,000 shares for a cost of $75.44 each, for a total investment of $754,400. Ulta Salon Cosmetics & Fragrance Inc. is trading up about 1.6% on the day Friday. So far Philippin is in the green, up about 3.3% on their buy based on today's trading high of $77.90.
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.