Wednesday 6/15 Insider Buying Report: KW, SPB Wednesday, June 15, 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.
On Tuesday, Kennedy-Wilson Holdings (KW)'s Director, Stanley R. Zax, made a $940,000 buy of KW, purchasing 50,000 shares at a cost of $18.80 a piece. Zax was up about 2.8% on the buy at the high point of today's trading session, with KW trading as high as $19.32 at last check today. Kennedy-Wilson Holdings is trading up about 1.8% on the day Wednesday. Before this latest buy, Zax made one other buy in the past year, purchasing $439,164 shares for a cost of $22.18 each.
And at Spectrum Brands Holdings (SPB), there was insider buying on Monday, by Executive Chairman David M. Maura who purchased 4,350 shares for a cost of $114.52 each, for a trade totaling $498,162. Before this latest buy, Maura bought SPB on 5 other occasions during the past twelve months, for a total investment of $587,347 at an average of $97.89 per share. Spectrum Brands Holdings is trading up about 1% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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