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 Wednesday, HomeStreet's EVP, Chief Financial Officer, John Michel, made a $357,840 buy of HMST, purchasing 8,400 shares at a cost of $42.60 each. Michel was up about 4.6% on the buy at the high point of today's trading session, with HMST trading as high as $44.54 in trading on Friday. HomeStreet is trading up about 1.7% on the day Friday. Before this latest buy, Michel made one other purchase in the past twelve months, buying $31,044 shares for a cost of $31.04 a piece.
And at US Silica Holdings, there was insider buying on Wednesday, by Director William Jennings Kacal who purchased 30,000 shares for a cost of $10.55 each, for a total investment of $316,485. This purchase marks the first one filed by Kacal in the past year. US Silica Holdings is trading up about 2.2% on the day Friday. Kacal was up about 10.8% on the purchase at the high point of today's trading session, with SLCA trading as high as $11.69 at last check today.
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.