Wednesday 10/22 Insider Buying Report: MAT, ITG Wednesday, October 22, 1:15 PM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Mattel (MAT), a filing with the SEC revealed that on Monday, Director Christopher A. Sinclair purchased 8,686 shares of MAT, at a cost of $28.88 each, for a total investment of $250,832. Sinclair was up about 4.2% on the purchase at the high point of today's trading session, with MAT trading as high as $30.10 at last check today. Mattel is trading up about 1.6% on the day Wednesday. This purchase marks the first one filed by Sinclair in the past year.
And at Investment Tech Group (ITG), there was insider buying on Monday, by Managing Director William S. Geyer who purchased 7,000 shares at a cost of $16.20 each, for a total investment of $113,400. Investment Tech Group is trading up about 2% on the day Wednesday. Geyer was up about 5.8% on the purchase at the high point of today's trading session, with ITG trading as high as $17.14 in trading on Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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