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 Freeport-McMoran Copper & Gold, a filing with the SEC revealed that on Thursday, CEO Richard C. Adkerson bought 250,000 shares of FCX, at a cost of $10.02 each, for a total investment of $2.51M. Investors can bag FCX even cheaper than Adkerson did, with the stock trading as low as $8.09 at last check today which is 19.3% under Adkerson's purchase price. Freeport-McMoran Copper & Gold is trading off about 9.8% on the day Monday. Before this latest buy, Adkerson made one other purchase in the past twelve months, buying $1.74M shares at a cost of $10.14 a piece.
And at Upwork, there was insider buying on Thursday, by Director Thomas Layton who bought 125,000 shares for a cost of $8.09 each, for a total investment of $1.01M. This buy marks the first one filed by Layton in the past twelve months. Upwork is trading down about 1.7% on the day Monday. Investors have the opportunity to grab UPWK at a price even lower than Layton did, with shares trading as low as $7.34 at last check today -- that's 9.2% below Layton'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 9.5%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 9.5%.