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.
At Starbucks, a filing with the SEC revealed that on Tuesday, interim ceo Howard D. Schultz bought 137,500 shares of SBUX, at a cost of $72.67 each, for a total investment of $9.99M. Starbucks Corp. is trading up about 5.3% on the day Friday.
And at Stagwell, there was insider buying on Thursday, by Director Eli Samaha who bought 644,452 shares for a cost of $6.90 each, for a total investment of $4.45M. Before this latest buy, Samaha purchased STGW at 2 other times during the past twelve months, for a total cost of $5.83M at an average of $7.84 per share. Stagwell is trading up about 6.9% on the day Friday. Samaha was up about 8.3% on the buy at the high point of today's trading session, with STGW trading as high as $7.48 in trading on Friday.
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