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.
On Monday, Wyndham Hotels & Resorts (NYSE:WH)'s President & Chief Exec Officer, Geoffrey A. Ballotti, made a $614,824 buy of WH, purchasing 10,000 shares at a cost of $61.48 each. Wyndham Hotels & Resorts is trading down about 0.5% on the day Tuesday.
And at BGC Partners (NASDAQ:BGCP), there was insider buying on Thursday, by Director William J. Moran who purchased 10,000 shares at a cost of $11.09 each, for a trade totaling $110,900. This buy marks the first one filed by Moran in the past twelve months. BGC Partners is trading up about 0.6% on the day Tuesday.
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