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 Wednesday, Dell Technologies (NYSE:DVMT)'s Chief Executive Officer, Michael S. Dell, made a $2.67M buy of DVMT, purchasing 81,573 shares at a cost of $32.70 each. So far Dell is in the green, up about 151.4% on their buy based on today's trading high of $82.20. Dell Technologies is trading up about 0.6% on the day Friday. Before this latest buy, Dell bought DVMT at 6 other times during the past twelve months, for a total investment of $10.66M at an average of $27.66 per share.
And at PacWest Bancorp (NASDAQ:PACW), there was insider buying on Thursday, by EVP, Chief Financial Officer Patrick J. Rusnak who bought 2,000 shares at a cost of $46.92 each, for a trade totaling $93,840. Before this latest buy, Rusnak made one other buy in the past twelve months, purchasing $95,500 shares at a cost of $47.75 each. PacWest Bancorp is trading up about 1.9% on the day Friday. So far Rusnak is in the green, up about 2.3% on their buy based on today's trading high of $47.99.
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