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.
On Thursday, Ashland Global Holdings' CEO, Guillermo Novo, made a $1.01M purchase of ASH, buying 12,900 shares at a cost of $78.35 a piece. Ashland Global Holdings is trading up about 0.4% on the day Friday.
And at Northwest Bancshares, there was insider buying on Thursday, by Director Timothy M. Hunter who bought 10,000 shares at a cost of $15.82 each, for a trade totaling $158,200. Before this latest buy, Hunter bought NWBI at 2 other times during the past year, for a total investment of $237,988 at an average of $17.00 per share. Northwest Bancshares is trading up about 0.7% on the day Friday. Bargain hunters can snag NWBI even cheaper than Hunter did, with the stock trading as low as $15.54 in trading on Friday -- that's 1.8% under Hunter's purchase price.
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