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.
At Energen Corp. (NYSE:EGN), a filing with the SEC revealed that on Monday, Carl C. Icahn bought 100,000 shares of EGN, at a cost of $74.59 each, for a total investment of $7.46M. Energen Corp. is trading off about 0.8% on the day Tuesday. Before this latest buy, Icahn purchased EGN on 6 other occasions during the past year, for a total cost of $80.52M at an average of $70.42 per share.
And at Tenable Holdings (NASDAQ:TENB), there was insider buying on Monday, by Director A. Brooke Seawell who purchased 30,000 shares for a cost of $23.00 each, for a total investment of $690,000. Tenable Holdings is trading up about 1% on the day Tuesday. So far Seawell is in the green, up about 31.5% on their buy based on today's trading high of $30.25.
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.