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 Leonardo DRS, a filing with the SEC revealed that on Tuesday, Director Reuben Jeffery III purchased 25,000 shares of DRS, for a cost of $42.77 each, for a total investment of $1.07M. So far Jeffery III is in the green, up about 2.9% on their purchase based on today's trading high of $44.00. Leonardo DRS is trading up about 2.1% on the day Wednesday.
And on Friday, Milton C. Ault III bought $1.06M worth of Universal Safety Products, buying 185,000 shares at a cost of $5.75 a piece. Before this latest buy, Ault III bought UUU on 27 other occasions during the past twelve months, for a total cost of $3.46M at an average of $5.49 per share. Universal Safety Products is trading down about 1.4% on the day Wednesday. Ault III was up about 14.6% on the buy at the high point of today's trading session, with UUU trading as high as $6.59 at last check today.
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