Thursday 9/25 Insider Buying Report: NEWM, SSI Thursday, September 25, 12:19 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 Tuesday, New Media Investment Group (NEWM)'s Chief Executive Officer, Michael Reed, made a $499,996 buy of NEWM, purchasing 30,769 shares at a cost of $16.25 each. So far Reed is in the green, up about 6.3% on their buy based on today's trading high of $17.27. New Media Investment Group is trading up about 1.8% on the day Thursday. This purchase marks the first one filed by Reed in the past twelve months.
And at Stage Stores (SSI), there was insider buying on Tuesday, by CEO Michael L. Glazer who bought 10,000 shares at a cost of $16.23 each, for a total investment of $162,328. Stage Stores is trading off about 0.2% on the day Thursday. So far Glazer is in the green, up about 4.4% on their purchase based on today's trading high of $16.95.
For MarketNewsVideo.com, I'm Sayoko Murase.
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