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 Affiliated Managers Group, a filing with the SEC revealed that on Wednesday, Director Dwight D. Churchill bought 1,000 shares of AMG, at a cost of $77.94 each, for a total investment of $77,940. Investors have the opportunity to buy AMG even cheaper than Churchill did, with the stock trading as low as $71.29 at last check today which is 8.5% below Churchill’s purchase price. Affiliated Managers Group is trading down about 6.2% on the day Thursday. Before this latest buy, Churchill bought AMG at 2 other times during the past twelve months, for a total investment of $273,685 at an average of $78.20 per share.
And on Monday, Director Theodore L. Weise purchased $74,467 worth of KLX Energy Services Holdings, purchasing 26,475 shares at a cost of $2.81 each. Before this latest buy, Weise made one other purchase in the past year, buying $28,500 shares for a cost of $9.50 each. KLX Energy Services Holdings is trading down about 18.9% on the day Thursday. Investors can buy KLXE even cheaper than Weise did, with shares changing hands as low as $2.20 in trading on Thursday which is 21.8% below Weise’s purchase price.
VIDEO: Thursday 6/11 Insider Buying Report: AMG, KLXE
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