Thursday 3/3 Insider Buying Report: WNR, M Thursday, March 3, 10:37 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 Wednesday, Western Refining (WNR)'s CEO, Jeff A. Stevens, made a $2.66M purchase of WNR, buying 100,000 shares at a cost of $26.63 each. So far Stevens is in the green, up about 5.5% on their purchase based on today's trading high of $28.09. Western Refining is trading up about 5.2% on the day Thursday.
And also on Wednesday, President Jeffrey Gennette purchased $1.1M worth of Macy's (M), purchasing 25,000 shares at a cost of $43.81 each. Macy's is trading down about 0.9% on the day Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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