Monday 12/9 Insider Buying Report: KLXE, CHK Monday, December 9, 10:49 AM ET
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 KLX Energy Services Holdings (KLXE), a filing with the SEC revealed that on Friday, CFO Thomas P. McCaffrey bought 75,000 shares of KLXE, at a cost of $5.25 each, for a total investment of $393,945. So far McCaffrey is in the green, up about 26.2% on their buy based on today's trading high of $6.63. KLX Energy Services Holdings is trading up about 14.1% on the day Monday. Before this latest buy, McCaffrey made one other buy in the past twelve months, purchasing $908,532 shares at a cost of $12.11 a piece.
And at Chesapeake Energy Corp. (CHK), there was insider buying on Friday, by Director Thomas L. Ryan who purchased 200,000 shares at a cost of $0.75 each, for a total investment of $150,000. Before this latest buy, Ryan made one other purchase in the past twelve months, buying $361,800 shares for a cost of $1.81 a piece. Chesapeake Energy Corp. is trading up about 1.7% on the day Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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