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.
At Arconic, a filing with the SEC revealed that on Thursday, CEO John C. Plant bought 105,000 shares of ARNC, at a cost of $18.51 each, for a total investment of $1.94M. Investors have the opportunity to bag ARNC even cheaper than Plant did, with shares changing hands as low as $18.11 in trading on Friday which is 2.1% under Plant's purchase price. Arconic is trading up about 0.3% on the day Friday.
And at Universal Insurance Holdings, there was insider buying on Wednesday, by COO Stephen Donaghy who purchased 20,000 shares at a cost of $31.50 each, for a trade totaling $630,000. Universal Insurance Holdings is trading up about 1.4% on the day Friday.
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.