Monday 9/19 Insider Buying Report: EIGI, PAH Monday, September 19, 10:36 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 Endurance International Group Holdings (EIGI), a filing with the SEC revealed that on Friday, Director Chandler Reedy bought 1,599,500 shares of EIGI, for a cost of $8.62 each, for a total investment of $13.78M. Endurance International Group Holdings is trading up about 2.5% on the day Monday. Before this latest buy, Reedy bought EIGI at 4 other times during the past year, for a total investment of $14.13M at an average of $7.40 per share.
And also on Friday, Director Martin E. Franklin bought $8.66M worth of Platform Specialty Products Corp (PAH), buying 1,050,000 shares at a cost of $8.25 a piece. Before this latest buy, Franklin made one other purchase in the past year, buying $5.94M shares at a cost of $11.88 each. Platform Specialty Products Corp is trading up about 3.2% on the day Monday. Franklin was up about 7.6% on the purchase at the high point of today's trading session, with PAH trading as high as $8.88 in trading on Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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