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 Thursday, Churchill Downs' Director, Richard L. Duchossois, made a $750,214 buy of CHDN, purchasing 4,548 shares at a cost of $164.95 each. So far Duchossois is in the green, up about 2.0% on their purchase based on today's trading high of $168.20. Churchill Downs is trading trading flat on the day Tuesday.
And at WildHorse Resource Development, there was insider buying on Thursday, by Chief Executive Officer Jay Carlton Graham who bought 40,000 shares at a cost of $12.42 each, for a total investment of $496,800. Before this latest buy, Graham made one other buy in the past year, purchasing $7.5M shares at a cost of $15.00 each. WildHorse Resource Development is trading off about 0.5% on the day Tuesday. Graham was up about 12.7% on the purchase at the high point of today's trading session, with WRD trading as high as $14.00 in trading on Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.