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.
On Tuesday, UWM Holdings' Director, Robert Verdun, made a $456,250 purchase of UWMC, buying 50,000 shares at a cost of $9.12 a piece. Verdun was up about 18.4% on the purchase at the high point of today's trading session, with UWMC trading as high as $10.80 at last check today. UWM Holdings is trading up about 3.2% on the day Thursday. Before this latest buy, Verdun made one other buy in the past twelve months, purchasing $478,020 shares at a cost of $7.97 a piece.
And also on Tuesday, Director Robert B. Mills bought $202,258 worth of Williams Industrial Services Group, buying 35,000 shares at a cost of $5.78 a piece. This purchase marks the first one filed by Mills in the past year. Williams Industrial Services Group is trading up about 7.2% on the day Thursday. Mills was up about 5.6% on the purchase at the high point of today's trading session, with WLMS trading as high as $6.10 in trading on Thursday.
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