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 Wabtec, a filing with the SEC revealed that on Thursday, Director William E. Kassling purchased 8,000 shares of WAB, for a cost of $62.94 each, for a total investment of $503,520. So far Kassling is in the green, up about 5.2% on their purchase based on today's trading high of $66.24. Wabtec is trading up about 0.7% on the day Tuesday.
And also on Thursday, Chief Executive Officer Jonathan L. Steinberg purchased $496,253 worth of WisdomTree Investments, purchasing 79,365 shares at a cost of $6.25 a piece. Before this latest buy, Steinberg bought WETF at 2 other times during the past year, for a total cost of $1.00M at an average of $6.26 per share. WisdomTree Investments is trading off about 2.2% on the day Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.