Monday 10/6 Insider Buying Report: XLS, VNR Monday, October 6, 1:01 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 Thursday, Exelis (XLS)'s CEO and President, David F. Melcher, made a $79,870 purchase of XLS, buying 5,000 shares at a cost of $15.97 each. So far Melcher is in the green, up about 7.6% on their buy based on today's trading high of $17.19. Exelis is trading up about 1.1% on the day Monday.
And also on Thursday, CFO Richard A. Robert bought $79,050 worth of Vanguard Natural Resources (VNR), buying 3,000 shares at a cost of $26.35 a piece. This purchase marks the first one filed by Robert in the past twelve months. Vanguard Natural Resources is trading off about 1.6% on the day Monday. So far Robert is in the green, up about 2.2% on their buy based on today's trading high of $26.93.
For MarketNewsVideo.com, I'm Sayoko Murase.
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