Friday 8/14 Insider Buying Report: SHLM, MACK Friday, August 14, 10:31 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 A. Schulman (SHLM), a filing with the SEC revealed that on Wednesday, Director James A. Mitarotonda purchased 40,000 shares of SHLM, for a cost of $34.96 each, for a total investment of $1.4M. Mitarotonda was up about 6.0% on the purchase at the high point of today's trading session, with SHLM trading as high as $37.05 at last check today. A. Schulman is trading up about 0.6% on the day Friday. Before this latest buy, Mitarotonda made one other purchase in the past year, buying $1.80M shares for a cost of $36.05 a piece.
And also on Wednesday, Director John M. Dineen bought $1.02M worth of Merrimack Pharmaceuticals (MACK), buying 100,000 shares at a cost of $10.15 each. This purchase marks the first one filed by Dineen in the past twelve months. Merrimack Pharmaceuticals is trading down about 0.3% on the day Friday. Dineen was up about 4.5% on the purchase at the high point of today's trading session, with MACK trading as high as $10.61 in trading on Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
|