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.
On Tuesday, PetIQ's Chief Financial Officer, John Newland, made a $980,148 purchase of PETQ, buying 44,000 shares at a cost of $22.28 each. Newland was up about 9.6% on the purchase at the high point of today's trading session, with PETQ trading as high as $24.41 in trading on Wednesday. PetIQ is trading up about 7.1% on the day Wednesday. This purchase marks the first one filed by Newland in the past twelve months.
And on Friday, Director Adam R. Flatto purchased $428,870 worth of Howard Hughes, purchasing 4,000 shares at a cost of $107.22 each. This purchase marks the first one filed by Flatto in the past year. Howard Hughes is trading up about 0.9% on the day Wednesday. Flatto was up about 3.4% on the buy at the high point of today's trading session, with HHC trading as high as $110.83 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.