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 Fox, a filing with the SEC revealed that on Saturday, Executive Chairman, CEO Lachlan K. Murdoch bought 229,024 shares of FOX, at a cost of $25.74 each, for a total investment of $5.9M. So far Murdoch is in the green, up about 1.6% on their buy based on today's trading high of $26.14. Fox is trading up about 1.2% on the day Wednesday. Before this latest buy, Murdoch bought FOX on 2 other occasions during the past twelve months, for a total investment of $4.27M at an average of $28.30 per share.
And on Friday, CHIEF LEARNING OFFICER Paul W. Grunau bought $1.03M worth of API Group, buying 70,000 shares at a cost of $14.74 each. This purchase marks the first one filed by Grunau in the past twelve months. API Group is trading up about 1.2% on the day Wednesday. Grunau was up about 7.0% on the purchase at the high point of today's trading session, with APG trading as high as $15.77 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.