Wednesday 1/28 Insider Buying Report: SNDK, HBAN Wednesday, January 28, 12:03 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 SanDisk Corp. (SNDK), a filing with the SEC revealed that on Monday, Director D. Scott Mercer bought 3,000 shares of SNDK, at a cost of $80.27 each, for a total investment of $240,810. SanDisk Corp. is trading up about 1.6% on the day Wednesday. This purchase marks the first one filed by Mercer in the past twelve months.
And at Huntington Bancshares (HBAN), there was insider buying on Monday, by President, CEO & Chairman Stephen D. Steinour who purchased 9,710 shares at a cost of $10.17 each, for a total investment of $98,751. Before this latest buy, Steinour purchased HBAN on 3 other occasions during the past twelve months, for a total cost of $358,609 at an average of $9.37 per share. Huntington Bancshares is trading trading flat on the day Wednesday. Investors have the opportunity to grab HBAN at a price even lower than Steinour did, with shares trading as low as $9.97 at last check today which is 2.0% under Steinour's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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