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 Douglas Emmett, a filing with the SEC revealed that on Tuesday, Director Christopher H. Anderson bought 42,800 shares of DEI, at a cost of $30.33 each, for a total investment of $1.3M. So far Anderson is in the green, up about 7.6% on their buy based on today's trading high of $32.62. Douglas Emmett is trading off about 2.4% on the day Thursday. This purchase marks the first one filed by Anderson in the past twelve months.
And on Monday, Director Edward H. Kennedy bought $95,703 worth of Extreme Networks, buying 27,900 shares at a cost of $3.43 a piece. This purchase marks the first one filed by Kennedy in the past twelve months. Extreme Networks is trading up about 1.5% on the day Thursday. Kennedy was up about 29.4% on the buy at the high point of today's trading session, with EXTR trading as high as $4.44 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.