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, Mohawk Industries (NYSE:MHK)'s Director, Filip Balcaen, made a $2.11M buy of MHK, purchasing 10,046 shares at a cost of $209.82 each. So far Balcaen is in the green, up about 2.4% on their buy based on today's trading high of $214.88. Mohawk Industries is trading up about 1.3% on the day Friday. Before this latest buy, Balcaen made one other buy in the past year, purchasing $13.84M shares for a cost of $209.08 a piece.
And at Discovery (NASDAQ:DISCA), there was insider buying on Wednesday, by Director J. David Wargo who bought 50,000 shares for a cost of $21.37 each, for a total investment of $1.07M. Before this latest buy, Wargo purchased DISCA on 2 other occasions during the past twelve months, for a total investment of $3.43M at an average of $17.16 per share. Discovery is trading up about 0.2% on the day Friday. So far Wargo is in the green, up about 11.8% on their buy based on today's trading high of $23.90.
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.