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.
At MGM Resorts International, a filing with the SEC revealed that on Wednesday, Director Paul J. Salem bought 800,000 shares of MGM, for a cost of $25.40 each, for a total investment of $20.32M. Bargain hunters can buy MGM at a price even lower than Salem did, with the stock trading as low as $24.75 in trading on Monday — that's 2.6% below Salem's purchase price. MGM Resorts International is trading down about 2% on the day Monday.
And at Affiliated Managers Group, there was insider buying on Friday, by CFO Jay C. Horgen who bought 11,000 shares for a cost of $93.19 each, for a trade totaling $1.03M. This purchase marks the first one filed by Horgen in the past twelve months. Affiliated Managers Group is trading off about 3.6% on the day Monday. Investors are able to snag AMG even cheaper than Horgen did, with shares trading as low as $90.95 in trading on Monday — that's 2.4% below Horgen's purchase price.
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.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 8.7%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 8.7%.