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.
On Thursday, Delta Air Lines' Director, George N. Mattson, made a $272,640 buy of DAL, purchasing 6,000 shares at a cost of $45.44 a piece. So far Mattson is in the green, up about 3.7% on their buy based on today's trading high of $47.11. Delta Air Lines is trading up about 0.8% on the day Monday. This buy marks the first one filed by Mattson in the past year.
And on Wednesday, Director Marna C. Whittington bought $205,451 worth of Macy's, buying 10,000 shares at a cost of $20.55 a piece. This purchase marks the first one filed by Whittington in the past twelve months. Macy's is trading down about 0.6% on the day Monday. So far Whittington is in the green, up about 3.4% on their buy based on today's trading high of $21.25.
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