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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Friday, Heritage Global's CEO, Ross Dove, made a $49,998 buy of HGBL, purchasing 28,570 shares at a cost of $1.75 a piece. So far Dove is in the green, up about 13.1% on their purchase based on today's trading high of $1.98. Heritage Global is trading up about 0.3% on the day Tuesday. Before this latest buy, Dove purchased HGBL on 4 other occasions during the past year, for a total cost of $171,612 at an average of $1.04 per share.
And also on Friday, EVP, Corporate Services Rachel Maureen Moore purchased $44,520 worth of Ovintiv, purchasing 6,000 shares at a cost of $7.42 each. Ovintiv is trading up about 2.4% on the day Tuesday. Moore was up about 20.2% on the purchase at the high point of today's trading session, with OVV trading as high as $8.92 in trading on Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.