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 Thursday, KLX Energy Services Holdings' CFO, Thomas P. McCaffrey, made a $908,532 buy of KLXE, purchasing 75,000 shares at a cost of $12.11 a piece. Bargain hunters have the opportunity to grab KLXE even cheaper than McCaffrey did, with shares trading as low as $10.01 in trading on Tuesday which is 17.4% below McCaffrey's purchase price. KLX Energy Services Holdings is trading up about 5.2% on the day Tuesday. This buy marks the first one filed by McCaffrey in the past year.
And on Friday, Chairman of Exec. Committee Mitchell P. Rales purchased $348,800 worth of Danaher, purchasing 2,500 shares at a cost of $139.52 a piece. Before this latest buy, Rales made one other buy in the past year, purchasing $248,485 shares at a cost of $130.78 each. Danaher is trading up about 1.1% on the day Tuesday. Investors have the opportunity to grab DHR even cheaper than Rales did, with shares changing hands as low as $137.01 in trading on Tuesday which is 1.8% below Rales's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.