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 Workiva, a filing with the SEC revealed that on Friday, Director Martin J. Vanderploeg bought 4,000 shares of WK, at a cost of $78.91 each, for a total investment of $315,640. Workiva is trading off about 1% on the day Tuesday. Before this latest buy, Vanderploeg made one other buy in the past year, purchasing $299,954 shares at a cost of $74.99 a piece.
And at Turtle Beach, there was insider buying on Thursday, by William Z. Wyatt who bought 20,000 shares for a cost of $14.71 each, for a trade totaling $294,200. Before this latest buy, Wyatt made one other buy in the past year, purchasing $203,250 shares at a cost of $16.26 each. Turtle Beach is trading down about 1.9% on the day Tuesday. So far Wyatt is in the green, up about 7.7% on their buy based on today's trading high of $15.84.
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