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 Pinterest, a filing with the SEC revealed that on Wednesday, Chief Executive Officer William J. Ready purchased 222,551 shares of PINS, at a cost of $22.47 each, for a total investment of $5.00M. Pinterest is trading up about 0.3% on the day Friday.
And on Tuesday, Director Andrea J. Ayers purchased $1.48M worth of Stanley Black & Decker, purchasing 15,500 shares at a cost of $95.69 a piece. Before this latest buy, Ayers made one other buy in the past year, purchasing $1.48M shares for a cost of $95.69 each. Stanley Black & Decker is trading up about 1.9% on the day Friday. Investors can grab SWK at a price even lower than Ayers did, with the stock changing hands as low as $93.34 in trading on Friday which is 2.5% below Ayers's purchase price.
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