Monday 9/15 Insider Buying Report: NES, WMC Monday, September 15, 12:29 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, Nuverra Environmental Solutions (NES)'s Director, Tod C. Holmes, made a $102,760 purchase of NES, buying 7,000 shares at a cost of $14.68 each. Bargain hunters are able to pick up NES at a price even lower than Holmes did, with the stock changing hands as low as $14.10 at last check today -- that's 4.0% under Holmes's purchase price. Nuverra Environmental Solutions is trading down about 0.8% on the day Monday.
And at Western Asset Mortgage Capital Corp (WMC), there was insider buying on Thursday, by President, CEO Gavin L. James who bought 6,570 shares at a cost of $15.20 each, for a total investment of $99,864. Before this latest buy, James purchased WMC at 5 other times during the past twelve months, for a total investment of $415,525 at an average of $14.63 per share. Western Asset Mortgage Capital Corp is trading off about 0.2% on the day Monday. Investors have the opportunity to grab WMC even cheaper than James did, with the stock trading as low as $14.76 at last check today -- that's 2.9% below James's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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