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 Monday, L Brands' Director, David T. Kollat, made a $498,869 purchase of LB, buying 9,910 shares at a cost of $50.34 a piece. Bargain hunters have the opportunity to bag LB at a price even lower than Kollat did, with the stock trading as low as $48.81 at last check today which is 3.0% below Kollat's purchase price. L Brands is trading off about 0.1% on the day Wednesday. Before this latest buy, Kollat made one other purchase in the past year, buying $995,340 shares at a cost of $37.56 each.
And at Entercom Communications, there was insider buying on Friday, by CEO David J. Field who bought 25,000 shares for a cost of $11.60 each, for a trade totaling $290,030. Entercom Communications is trading up about 0.2% on the day Wednesday.
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