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 Twitter (TWTR), a filing with the SEC revealed that on Friday, Chief Executive Officer Jack Dorsey bought 574,002 shares of TWTR, at a cost of $16.62 each, for a total investment of $9.54M. So far Dorsey is in the green, up about 4.6% on their buy based on today's trading high of $17.39. Twitter is trading up about 4.9% on the day Monday. Before this latest buy, Dorsey made one other buy in the past twelve months, purchasing $7.00M shares at a cost of $16.43 each.
And on Wednesday, Director George Karfunkel purchased $8.98M worth of Eastman Kodak (NYSE:KODK), purchasing 835,706 shares at a cost of $10.75 a piece. This buy marks the first one filed by Karfunkel in the past year. Eastman Kodak is trading up about 1.6% on the day Monday. So far Karfunkel is in the green, up about 5.1% on their purchase based on today's trading high of $11.30.
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