As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Friday, MMA Capital Management's Director, James Christopher Hunt, made a $4.13M purchase of MMAC, buying 125,000 shares at a cost of $33.00 each. Bargain hunters are able to pick up MMAC even cheaper than Hunt did, with the stock changing hands as low as $28.05 in trading on Friday which is 15.0% under Hunt's purchase price. MMA Capital Management is trading trading flat on the day Friday.
And on Wednesday, Director Richard L. Duchossois bought $1.00M worth of Churchill Downs, buying 3,680 shares at a cost of $271.85 a piece. Before this latest buy, Duchossois made one other buy in the past twelve months, purchasing $750,214 shares at a cost of $164.95 each. Churchill Downs is trading up about 4% on the day Friday.
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.