Friday 8/14 Insider Buying Report: RRR, HOG Friday, August 14, 10:42 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.
On Wednesday, Red Rock Resorts (RRR)'s Chief Executive Officer, Frank J. Fertitta III, made a $6.65M buy of RRR, purchasing 450,000 shares at a cost of $14.79 each. So far Fertitta III is in the green, up about 6.7% on their purchase based on today's trading high of $15.78. Red Rock Resorts is trading up about 2.8% on the day Friday. Before this latest buy, Fertitta III purchased RRR at 8 other times during the past twelve months, for a total cost of $35.06M at an average of $16.18 per share.
And at Harley-Davidson (HOG), there was insider buying on Wednesday, by Chairman and Acting President Jochen Zeitz who bought 71,450 shares at a cost of $27.86 each, for a trade totaling $1.99M. Before this latest buy, Zeitz bought HOG on 2 other occasions during the past twelve months, for a total cost of $3.08M at an average of $20.66 per share. Harley-Davidson is trading off about 1.4% on the day Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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