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.
On Thursday, Kennedy-Wilson Holdings' CHAIRMAN AND CEO, William J. McMorrow, made a $1.27M purchase of KW, buying 200,000 shares at a cost of $6.36 a piece. So far McMorrow is in the green, up about 4.4% on their purchase based on today's trading high of $6.64. Kennedy-Wilson Holdings Inc is trading up about 2.8% on the day Friday. This buy marks the first one filed by McMorrow in the past twelve months.
And at Repay Holdings, there was insider buying on Thursday, by President Shaler Alias who bought 189,782 shares at a cost of $4.13 each, for a total investment of $784,212. Repay Holdings is trading up about 6.4% on the day Friday.
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