Tuesday 7/25 Insider Buying Report: CSX, RLI
Tuesday, July 25, 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.
At CSX Corp (CSX), a filing with the SEC revealed that on Friday, Director Ridge LP Mantle purchased 1,357,000 shares of CSX, for a cost of $51.59 each, for a total investment of $70.01M. CSX Corp is trading up about 1% on the day Tuesday. This purchase marks the first one filed by Mantle in the past twelve months.
And at RLI Corp. (RLI), there was insider buying on Monday, by Director Robert P. Restrepo Jr. who purchased 1,200 shares at a cost of $57.58 each, for a trade totaling $69,096. Before this latest buy, Restrepo Jr. bought RLI on 6 other occasions during the past twelve months, for a total investment of $347,234 at an average of $59.87 per share. RLI Corp. is trading up about 2.1% on the day Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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