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Wednesday 2/9 Insider Buying Report: INGR, AZEK Wednesday, February 9, 2:01 PM ET
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, Ingredion's SVP, Global Ops, David Eric Seip, made a $429,500 purchase of INGR, buying 5,000 shares at a cost of $85.90 a piece. So far Seip is in the green, up about 4.1% on their purchase based on today's trading high of $89.45. Ingredion is trading up about 1.8% on the day Wednesday.
And at AZEK, there was insider buying on Monday, by CFO Peter G. Clifford who bought 13,000 shares for a cost of $30.24 each, for a total investment of $393,120. AZEK is trading up about 5.1% on the day Wednesday. Clifford was up about 10.6% on the purchase at the high point of today's trading session, with AZEK trading as high as $33.46 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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