Wednesday 10/19 Insider Buying Report: AKAM, LGF Wednesday, October 19, 10:31 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 Monday, Akamai Technologies (AKAM)'s Chief Executive Officer, F. Thomson Leighton, made a $999,697 purchase of AKAM, buying 18,276 shares at a cost of $54.70 each. So far Leighton is in the green, up about 4.1% on their purchase based on today's trading high of $56.95. Akamai Technologies is trading up about 0.6% on the day Wednesday. Before this latest buy, Leighton bought AKAM at 8 other times during the past twelve months, for a total cost of $12M at an average of $52.51 per share.
And also on Monday, Director Arthur Evrensel bought $48,360 worth of Lions Gate Entertainment Corp. (LGF), buying 2,600 shares at a cost of $18.60 a piece. Lions Gate Entertainment Corp. is trading up about 0.7% on the day Wednesday. Evrensel was up about 4.9% on the purchase at the high point of today's trading session, with LGF trading as high as $19.51 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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