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 Syros Pharmaceuticals, a filing with the SEC revealed that on Tuesday, Director Srinivas Akkaraju purchased 533,332 shares of SYRS, for a cost of $7.50 each, for a total investment of $4M. Bargain hunters are able to bag SYRS at a price even lower than Akkaraju did, with shares trading as low as $6.83 in trading on Friday — that's 8.9% under Akkaraju's purchase price. Syros Pharmaceuticals is trading up about 3.2% on the day Friday. This buy marks the first one filed by Akkaraju in the past twelve months.
And at Hyster-Yale Materials Handling, there was insider buying on Tuesday, by Victoire G. Rankin who bought 1,640 shares for a cost of $64.99 each, for a total investment of $106,583. Before this latest buy, Rankin bought HY on 88 other occasions during the past twelve months, for a total cost of $10.41M at an average of $62.20 per share. Hyster-Yale Materials Handling is trading up about 1% on the day Friday. So far Rankin is in the green, up about 3.6% on their purchase based on today's trading high of $67.33.
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.