Monday 7/11 Insider Buying Report: RKT, ESTE Monday, July 11, 10:33 AM ET
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.
On Wednesday, Rocket Companies' Chief Executive Officer, Jay Farner, made a $398,214 buy of RKT, purchasing 48,600 shares at a cost of $8.19 a piece. Farner was up about 7.2% on the purchase at the high point of today's trading session, with RKT trading as high as $8.79 at last check today. Rocket Companies is trading up about 0.2% on the day Monday. Before this latest buy, Farner bought RKT at 29 other times during the past year, for a total investment of $13.04M at an average of $8.52 per share.
And also on Wednesday, Director Jay Frederick Joliat purchased $235,963 worth of Earthstone Energy, purchasing 20,237 shares at a cost of $11.66 each. This purchase marks the first one filed by Joliat in the past year. Earthstone Energy is trading trading flat on the day Monday. Joliat was up about 5.9% on the buy at the high point of today's trading session, with ESTE trading as high as $12.35 at last check today.
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