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 Dave & Busters Entertainment, a filing with the SEC revealed that on Friday, SVP Chief Information Officer Steve Klohn purchased 14,287 shares of PLAY, at a cost of $35.18 each, for a total investment of $502,684. Dave & Busters Entertainment Inc is trading up about 2.9% on the day Monday.
And on Wednesday, Director Jonny Ginns purchased $367,157 worth of Ecovyst, purchasing 40,402 shares at a cost of $9.09 each. Before this latest buy, Ginns made one other buy in the past twelve months, purchasing $364,592 shares for a cost of $8.91 each. Ecovyst Inc is trading up about 1% on the day Monday. Investors can bag ECVT at a price even lower than Ginns did, with the stock trading as low as $8.72 at last check today -- that's 4.0% under Ginns's purchase price.
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