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Wednesday 8/8 Insider Buying Report: SUM, AGYS Wednesday, August 8, 10:31 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 Summit Materials (SUM), a filing with the SEC revealed that on Friday, EVP & Chief Operating Officer Karl Watson bought 35,500 shares of SUM, at a cost of $21.15 each, for a total investment of $750,823. Summit Materials is trading up about 1.3% on the day Wednesday. This purchase marks the first one filed by Watson in the past year.
And at Agilysys (AGYS), there was insider buying on Tuesday, by CEO Ramesh Srinivasan who bought 35,000 shares at a cost of $15.39 each, for a trade totaling $538,491. Before this latest buy, Srinivasan made one other purchase in the past year, buying $588,450 shares at a cost of $11.77 a piece. Agilysys is trading up about 0.4% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase. | |
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