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, Vivint Smart Home's Chief Executive Officer, Todd R. Pedersen, made a $327,981 purchase of VVNT, buying 25,367 shares at a cost of $12.93 a piece. Bargain hunters are able to pick up VVNT at a price even lower than Pedersen did, with shares changing hands as low as $11.68 in trading on Friday which is 9.7% below Pedersen's purchase price. Vivint Smart Home is trading up about 2.4% on the day Friday. Before this latest buy, Pedersen purchased VVNT at 3 other times during the past twelve months, for a total cost of $663,210 at an average of $11.67 per share.
And on Monday, EVP and President-CVS Caremark Alan Lotvin purchased $315,675 worth of CVS Health, purchasing 5,000 shares at a cost of $63.13 each. CVS Health is trading up about 0.1% on the day Friday. Bargain hunters can snag CVS even cheaper than Lotvin did, with shares changing hands as low as $61.71 in trading on Friday which is 2.3% under Lotvin's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.