Tuesday 9/23 Insider Buying Report: AEO, FISV
Tuesday, September 23, 12:08 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 American Eagle Outfitters (AEO), a filing with the SEC revealed that on Monday, Exec Chairman & Interim CEO Jay L. Schottenstein purchased 148,942 shares of AEO, at a cost of $14.13 each, for a total investment of $2.11M. So far Schottenstein is in the green, up about 5.0% on their buy based on today's trading high of $14.84. American Eagle Outfitters is trading up about 4.2% on the day Tuesday. Before this latest buy, Schottenstein made one other purchase in the past year, buying $6.42M shares for a cost of $12.84 a piece.
And on Friday, Chief Operating Officer Mark A. Ernst purchased $655,000 worth of Fiserv (FISV), purchasing 10,000 shares at a cost of $65.50 a piece. This buy marks the first one filed by Ernst in the past year. Fiserv is trading up about 0.1% on the day Tuesday. Bargain hunters have the opportunity to snag FISV at a price even lower than Ernst did, with shares trading as low as $64.87 at last check today -- that's 1.0% below Ernst's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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