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 Thursday, Twenty-First Century Fox (NASDAQ:FOX)'s Executive Chairman, Lachlan K. Murdoch, made a $6.27M purchase of FOX, buying 137,801 shares at a cost of $45.48 a piece. Investors have the opportunity to pick up FOX even cheaper than Murdoch did, with shares changing hands as low as $44.72 at last check today — that's 1.7% below Murdoch's purchase price. Twenty-First Century Fox is trading flat on the day Monday.
And at Penn National Gaming (NASDAQ:PENN), there was insider buying on Wednesday, by Chief Executive Officer Timothy J. Wilmott who bought 100,000 shares for a cost of $30.85 each, for a total investment of $3.09M. Penn National Gaming is trading up about 1.5% on the day Monday. Wilmott was up about 11.3% on the purchase at the high point of today's trading session, with PENN trading as high as $34.32 at last check today.
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