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.
On Friday, RumbleON (RMBL)'s , Denmar John Dixon, made a $449,988 buy of RMBL, purchasing 13,636 shares at a cost of $33.00 each. So far Dixon is in the green, up about 10.7% on their purchase based on today's trading high of $36.53. RumbleON is trading down about 1.7% on the day Tuesday. Before this latest buy, Dixon made one other purchase in the past year, buying $244,688 shares at a cost of $39.15 a piece.
And at SmartRent.com (SMRT), there was insider buying on Thursday, by Director Bruce C. Strohm who purchased 10,000 shares at a cost of $12.25 each, for a trade totaling $122,456. This purchase marks the first one filed by Strohm in the past twelve months. SmartRent.com is trading off about 5.1% on the day Tuesday. Strohm was up about 18.3% on the purchase at the high point of today's trading session, with SMRT trading as high as $14.49 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.