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 Kratos Defense & Security Solutions (NASDAQ:KTOS), a filing with the SEC revealed that on Tuesday, Director William A. Hoglund purchased 200,000 shares of KTOS, for a cost of $7.24 each, for a total investment of $1.45M. So far Hoglund is in the green, up about 7.5% on their buy based on today's trading high of $7.78. Kratos Defense & Security Solutions is trading up about 6.5% on the day Wednesday. This purchase marks the first one filed by Hoglund in the past twelve months.
And on Monday, Director Jean Pierre Ergas purchased $449,850 worth of Knowles Corp (NYSE:KN), purchasing 15,000 shares at a cost of $29.99 each. This purchase marks the first one filed by Ergas in the past year. Knowles Corp is trading down about 0.3% on the day Wednesday. Bargain hunters are able to snag KN even cheaper than Ergas did, with the stock trading as low as $29.26 at last check today -- that's 2.4% under Ergas's purchase price.
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