Friday 6/10 Insider Buying Report: AAP, TIF Friday, June 10, 10:35 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.
At Advance Auto Parts (AAP), a filing with the SEC revealed that on Tuesday, CEO Thomas Greco purchased 6,700 shares of AAP, for a cost of $150.82 each, for a total investment of $1.01M. Greco was up about 3.2% on the purchase at the high point of today's trading session, with AAP trading as high as $155.64 in trading on Friday. Advance Auto Parts Inc is trading off about 1.3% on the day Friday.
And at Tiffany & Co. (TIF), there was insider buying on Monday, by Director Peter W. May who purchased 7,000 shares at a cost of $63.01 each, for a total investment of $441,070. Tiffany & Co. is trading off about 1.1% on the day Friday. Bargain hunters have the opportunity to grab TIF even cheaper than May did, with the stock changing hands as low as $61.40 in trading on Friday which is 2.6% below May's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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