Monday 11/14 Insider Buying Report: RESI, REV Monday, November 14, 1:31 PM 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 Thursday, Altisource Residential Corp (RESI)'s Chief Executive Officer, George G. Ellison, made a $248,675 purchase of RESI, buying 22,000 shares at a cost of $11.30 each. Ellison was up about 3.9% on the purchase at the high point of today's trading session, with RESI trading as high as $11.74 in trading on Monday. Altisource Residential Corp is trading up about 1.3% on the day Monday. Before this latest buy, Ellison made one other purchase in the past year, buying $248,820 shares for a cost of $9.57 a piece.
And at Revlon (REV), there was insider buying on Friday, by Director Paul G. Savas who purchased 8,100 shares at a cost of $28.70 each, for a trade totaling $232,493. This buy marks the first one filed by Savas in the past year. Revlon is trading up about 1.7% on the day Monday. Savas was up about 4.3% on the purchase at the high point of today's trading session, with REV trading as high as $29.95 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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