Tuesday 7/21 Insider Buying Report: WPX, BSET
Tuesday, July 21, 10:34 AM 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 WPX Energy (WPX), a filing with the SEC revealed that on Thursday, Director William G. Lowrie purchased 11,881 shares of WPX, for a cost of $10.10 each, for a total investment of $119,998. Bargain hunters have the opportunity to buy WPX at a price even lower than Lowrie did, with the stock changing hands as low as $9.58 in trading on Tuesday which is 5.1% below Lowrie's purchase price. WPX Energy is trading up about 1.1% on the day Tuesday. Before this latest buy, Lowrie bought WPX on 2 other occasions during the past year, for a total cost of $105,730 at an average of $10.57 per share.
And at Bassett Furniture Industries (BSET), there was insider buying on Friday, by Chairman of the Board Paul Fulton who purchased 1,000 shares for a cost of $38.06 each, for a trade totaling $38,060. Before this latest buy, Fulton bought BSET at 2 other times during the past twelve months, for a total investment of $71,214 at an average of $17.80 per share. Bassett Furniture Industries is trading up about 0.1% on the day Tuesday. Bargain hunters are able to bag BSET even cheaper than Fulton did, with shares changing hands as low as $37.14 in trading on Tuesday -- that's 2.4% under Fulton's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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