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 Ring Energy, a filing with the SEC revealed that on Wednesday, William R. Kruse bought 400,000 shares of REI, at a cost of $2.66 each, for a total investment of $1.06M. Ring Energy is trading up about 13.3% on the day Friday. Before this latest buy, Kruse made one other buy in the past year, purchasing $1.47M shares at a cost of $1.92 a piece.
And at Match Group, there was insider buying on Thursday, by Chief Executive Officer Bernard Jin Kim who purchased 16,000 shares for a cost of $63.58 each, for a total investment of $1.02M. This purchase marks the first one filed by Kim in the past year. Match Group Inc is trading up about 1.4% on the day Friday. Kim was up about 6.3% on the buy at the high point of today's trading session, with MTCH trading as high as $67.61 at last check today.
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