Tuesday 7/28 Insider Buying Report: QCOM, URI Tuesday, July 28, 2:43 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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Qualcomm (QCOM)'s Director, Mark D. McLaughlin, made a $348,207 purchase of QCOM, buying 5,650 shares at a cost of $61.63 each. So far McLaughlin is in the green, up about 2.8% on their buy based on today's trading high of $63.37. Qualcomm is trading up about 2% on the day Tuesday. This buy marks the first one filed by McLaughlin in the past year.
And on Friday, Director Donald C. Roof bought $319,040 worth of United Rentals (URI), buying 5,000 shares at a cost of $63.81 a piece. This purchase marks the first one filed by Roof in the past year. United Rentals is trading up about 2.8% on the day Tuesday. So far Roof is in the green, up about 5.5% on their purchase based on today's trading high of $67.33.
For MarketNewsVideo.com, I'm Sayoko Murase.
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