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.
At Waitr Holdings (NASDAQ:WTRH), a filing with the SEC revealed that on Tuesday, Director Tilman J. Fertitta purchased 1,000,000 shares of WTRH, for a cost of $1.43 each, for a total investment of $1.43M. So far Fertitta is in the green, up about 26.2% on their buy based on today's trading high of $1.80. Waitr Holdings is trading up about 18.1% on the day Wednesday. This buy marks the first one filed by Fertitta in the past year.
And at Clear Channel Outdoor Holdings (NYSE:CCO), there was insider buying on Friday, by Director Andrew W. Hobson who bought 200,000 shares for a cost of $2.32 each, for a total investment of $463,360. Clear Channel Outdoor Holdings is trading flat on the day Wednesday. So far Hobson is in the green, up about 17.6% on their purchase based on today's trading high of $2.73.
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