Friday 12/11 Insider Buying Report: SYY, PAH Friday, December 11, 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 Sysco (SYY), a filing with the SEC revealed that on Thursday, Director Nelson Peltz bought 613,221 shares of SYY, at a cost of $40.97 each, for a total investment of $25.12M. Sysco is trading down about 0.3% on the day Friday. Before this latest buy, Peltz made one other purchase in the past twelve months, buying $48,900 shares for a cost of $40.75 each.
And on Wednesday, Director Ian G. H. Ashken bought $568,000 worth of Platform Specialty Products Corp (PAH), buying 50,000 shares at a cost of $11.36 a piece. This purchase marks the first one filed by Ashken in the past twelve months. Platform Specialty Products is trading off about 4.8% on the day Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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