Friday 5/26 Insider Buying Report: PRAA, RCII Friday, May 26, 10:50 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 Tuesday, PRA Group (PRAA)'s Director, Geir Olsen, made a $4.91M buy of PRAA, purchasing 142,000 shares at a cost of $34.55 a piece. Olsen was up about 4.1% on the buy at the high point of today's trading session, with PRAA trading as high as $35.95 in trading on Friday. PRA Group is trading off about 0.4% on the day Friday. Before this latest buy, Olsen made one other purchase in the past twelve months, buying $4.98M shares for a cost of $34.84 a piece.
And at Rent-A-Center (RCII), there was insider buying on Tuesday, by Director Steven L. Pepper who bought 45,000 shares at a cost of $10.93 each, for a total investment of $491,787. Rent-A-Center is trading down about 0.5% on the day Friday. So far Pepper is in the green, up about 2.4% on their buy based on today's trading high of $11.19.
For MarketNewsVideo.com, I'm Sayoko Murase.
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