Monday 10/12 Insider Buying Report: HCHC, CIVI Monday, October 12, 10:36 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 Friday, HC2 Holdings (HCHC)'s CEO, Philip Falcone, made a $4.05M buy of HCHC, purchasing 540,000 shares at a cost of $7.50 a piece. Falcone was up about 6.7% on the purchase at the high point of today's trading session, with HCHC trading as high as $8.00 at last check today. HC2 Holdings is trading up about 4% on the day Monday.
And at Civitas Solutions (CIVI), there was insider buying on Wednesday, by Director Greg Roth who bought 13,900 shares at a cost of $21.50 each, for a total investment of $298,850. Civitas Solutions is trading up about 0.3% on the day Monday. So far Roth is in the green, up about 9.0% on their buy based on today's trading high of $23.43.
For MarketNewsVideo.com, I'm Sayoko Murase.
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