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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Cigna (NYSE:CI), a filing with the SEC revealed that on Thursday, Director John Partridge bought 8,820 shares of CI, for a cost of $139.35 each, for a total investment of $1.23M. So far Partridge is in the green, up about 2.6% on their buy based on today's trading high of $142.94. Cigna is trading up about 0.8% on the day Tuesday. This buy marks the first one filed by Partridge in the past year.
And at Covanta Holding (NYSE:CVA), there was insider buying on Monday, by Director Joseph M. Holsten who bought 80,780 shares for a cost of $14.49 each, for a total investment of $1.17M. Covanta Holding is trading up about 3.9% on the day Tuesday.
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.