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 Tuesday, Ares Dynamic Credit Allocation Fund (NYSE:ARDC)'s GC, CLO and Secretary, Daniel J. Hall, made a $40,000 buy of ARDC, purchasing 2,500 shares at a cost of $16.00 each. So far Hall is in the green, up about 0.5% on their purchase based on today's trading high of $16.08. Ares Dynamic Credit Allocation Fund is trading up about 0.4% on the day Thursday.
And also on Tuesday, CFO Lee Shavel purchased $37,032 worth of Verisk Analytics (NASDAQ:VRSK), purchasing 331 shares at a cost of $111.88 a piece. Before this latest buy, Shavel purchased VRSK at 7 other times during the past year, for a total cost of $263,047 at an average of $101.60 per share. Verisk Analytics is trading up about 0.2% on the day Thursday. So far Shavel is in the green, up about 0.3% on their buy based on today's trading high of $112.25.
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.