Thursday 5/14 Insider Buying Report: RESI, HDSN Thursday, May 14, 10:31 AM 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.
On Wednesday, Altisource Residential Corp (RESI)'s President, George G. Ellison, made a $1.01M purchase of RESI, buying 56,000 shares at a cost of $17.98 a piece. So far Ellison is in the green, up about 4.8% on their purchase based on today's trading high of $18.84. Altisource Residential Corp is trading up about 4.1% on the day Thursday. This buy marks the first one filed by Ellison in the past twelve months.
And at Hudson Technologies (HDSN), there was insider buying on Monday, by Director Richard Parrillo who bought 100,000 shares at a cost of $3.96 each, for a total investment of $396,005. This buy marks the first one filed by Parrillo in the past year. Hudson Technologies is trading up about 1.7% on the day Thursday. Parrillo was up about 7.3% on the purchase at the high point of today's trading session, with HDSN trading as high as $4.25 in trading on Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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