As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Monday, Rent-A-Center's Director, Christopher B. Hetrick, made a $667,500 buy of RCII, purchasing 15,000 shares at a cost of $44.50 each. Hetrick was up about 4.7% on the buy at the high point of today's trading session, with RCII trading as high as $46.59 at last check today. Rent-A-Center is trading up about 2.6% on the day Wednesday. This buy marks the first one filed by Hetrick in the past year.
And on Tuesday, CEO and Director Robert W. Pittman bought $501,680 worth of iHeartMedia, buying 24,150 shares at a cost of $20.77 each. Before this latest buy, Pittman purchased IHRT on 3 other occasions during the past year, for a total investment of $1.43M at an average of $17.60 per share. iHeartMedia is trading up about 3.5% on the day Wednesday. Pittman was up about 5.5% on the purchase at the high point of today's trading session, with IHRT trading as high as $21.91 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.
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%.