Tuesday 5/7 Insider Buying Report: CYS, PES Tuesday, May 7, 3:18 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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At CYS Investments (CYS), a filing with the SEC revealed that on Monday, CEO Kevin E. Grant purchased 30,058 shares of CYS, for a cost of $11.96 each, for a total investment of $359,430. CYS Investments is trading up about 0.8% on the day Tuesday. Before this latest buy, Grant purchased CYS on 2 other occasions during the past twelve months, for a total investment of $556,809 at an average of $13.10 per share.
And at Pioneer Energy Services (PES), there was insider buying on Thursday, by CEO Stacy Locke who bought 33,334 shares for a cost of $6.72 each, for a total investment of $224,004. Pioneer Energy Services is trading up about 6% on the day Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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