Tuesday 6/11 Insider Buying Report: FOX, OXY Tuesday, June 11, 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.
On Monday, Fox Corp (FOX)'s Chairman, Keith Rupert Murdoch, made a $20.56M buy of FOX, purchasing 600,000 shares at a cost of $34.27 each. Bargain hunters are able to pick up FOX at a price even lower than Murdoch did, with shares trading as low as $33.68 in trading on Tuesday — that's 1.7% below Murdoch's purchase price. Fox Corp is trading down about 0.1% on the day Tuesday. This buy marks the first one filed by Murdoch in the past twelve months.
And at Occidental Petroleum Corp (OXY), there was insider buying on Monday, by CEO Vicki A. Hollub who purchased 37,460 shares at a cost of $48.15 each, for a total investment of $1.80M. Occidental Petroleum Corp is trading up about 0.9% on the day Tuesday. Hollub was up about 1.4% on the buy at the high point of today's trading session, with OXY trading as high as $48.82 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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