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 Equitrans Midstream, a filing with the SEC revealed that on Thursday, CEO Thomas F. Karam bought 250,000 shares of ETRN, at a cost of $20.47 each, for a total investment of $5.12M. Bargain hunters are able to pick up ETRN even cheaper than Karam did, with shares trading as low as $20.18 at last check today which is 1.4% below Karam's purchase price. Equitrans Midstream Corp is trading off about 0.2% on the day Monday. This purchase marks the first one filed by Karam in the past year.
And on Wednesday, Director Trevor Bowen bought $282,555 worth of Kennedy-Wilson Holdings, buying 13,500 shares at a cost of $20.93 a piece. This buy marks the first one filed by Bowen in the past year. Kennedy-Wilson Holdings Inc is trading down about 0.6% on the day Monday. Investors can pick up KW at a price even lower than Bowen did, with shares trading as low as $20.53 in trading on Monday — that's 1.9% below Bowen's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.