Tuesday 7/7 Insider Buying Report: DVN, MIND Tuesday, July 7, 10:38 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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Devon Energy (DVN), a filing with the SEC revealed that on Monday, Director Barbara M. Baumann bought 4,500 shares of DVN, for a cost of $56.58 each, for a total investment of $254,606. Devon Energy is trading down about 2% on the day Tuesday.
And at Mitcham Industries (MIND), there was insider buying on Thursday, by Director Peter H. Blum who bought 27,451 shares at a cost of $3.96 each, for a trade totaling $108,608. Before this latest buy, Blum purchased MIND on 3 other occasions during the past year, for a total investment of $314,520 at an average of $7.31 per share. Mitcham Industries is trading down about 1.7% on the day Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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