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.
At Ritchie Bros Auctioneers, a filing with the SEC revealed that on Monday, CEO Ann Fandozzi bought 9,560 shares of RBA, for a cost of $52.25 each, for a total investment of $499,484. So far Fandozzi is in the green, up about 8.2% on their purchase based on today's trading high of $56.55. Ritchie Bros Auctioneers is trading up about 4.4% on the day Wednesday. This buy marks the first one filed by Fandozzi in the past twelve months.
And at Bandwidth, there was insider buying on Monday, by Chief Financial Officer Daryl Raiford who purchased 9,760 shares for a cost of $30.73 each, for a total investment of $299,931. This purchase marks the first one filed by Raiford in the past year. Bandwidth is trading up about 0.1% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.