Wednesday 12/7 Insider Buying Report: WEN, PODD Wednesday, December 7, 10:33 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 Wendy's (WEN), a filing with the SEC revealed that on Tuesday, Director Matthew H. Peltz bought 3,743,384 shares of WEN, for a cost of $12.79 each, for a total investment of $47.89M. Peltz was up about 6.6% on the buy at the high point of today's trading session, with WEN trading as high as $13.64 in trading on Wednesday. Wendy's is trading up about 3.6% on the day Wednesday.
And at Insulet (PODD), there was insider buying on Friday, by CEO and Chairman of the Board Patrick J. Sullivan who bought 40,000 shares at a cost of $33.89 each, for a total investment of $1.36M. Before this latest buy, Sullivan made one other purchase in the past twelve months, buying $1.22M shares at a cost of $27.00 each. Insulet is trading trading flat on the day Wednesday. Sullivan was up about 6.9% on the purchase at the high point of today's trading session, with PODD trading as high as $36.22 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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