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 StarTek (NYSE:SRT), a filing with the SEC revealed that on Friday, Director Mukesh Sharda bought 274,064 shares of SRT, at a cost of $7.48 each, for a total investment of $2.05M. So far Sharda is in the green, up about 14.3% on their buy based on today's trading high of $8.55. StarTek is trading up about 0.9% on the day Wednesday.
And at Waitr Holdings (NASDAQ:WTRH), there was insider buying on Tuesday, by CEO and Chairman Christopher Meaux who purchased 135,135 shares for a cost of $7.40 each, for a trade totaling $999,999. Waitr Holdings is trading up about 5.8% on the day Wednesday. Bargain hunters can snag WTRH even cheaper than Meaux did, with shares trading as low as $6.97 in trading on Wednesday which is 5.8% below Meaux's purchase price.
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