Monday 11/23 Insider Buying Report: APD, CACC Monday, November 23, 10:33 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.
On Friday, Air Products & Chemicals (APD)'s CEO, Seifi Ghasemi, made a $2.8M buy of APD, purchasing 20,000 shares at a cost of $139.93 each. Air Products & Chemicals is trading up about 0.9% on the day Monday. Before this latest buy, Ghasemi purchased APD on 5 other occasions during the past year, for a total cost of $16.95M at an average of $144.88 per share.
And at Credit Acceptance (CACC), there was insider buying on Thursday, by Chief Financial Officer Kenneth Booth who bought 5,000 shares for a cost of $164.80 each, for a trade totaling $823,994. Credit Acceptance is trading up about 0.3% on the day Monday. Booth was up about 4.5% on the purchase at the high point of today's trading session, with CACC trading as high as $172.26 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
|