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 Monday, Comstock Resources' Vice President of Operations, Patrick McGough, made a $427,968 buy of CRK, purchasing 28,800 shares at a cost of $14.86 a piece. McGough was up about 8.0% on the purchase at the high point of today's trading session, with CRK trading as high as $16.05 at last check today. Comstock Resources is trading up about 1.1% on the day Wednesday. This purchase marks the first one filed by McGough in the past twelve months.
And on Friday, Howard I. Ungerleider purchased $211,752 worth of Kyndryl Holdings, purchasing 20,000 shares at a cost of $10.59 a piece. Kyndryl Holdings Inc is trading up about 3.8% on the day Wednesday. So far Ungerleider is in the green, up about 9.1% on their buy based on today's trading high of $11.55
For MarketNewsVideo.com, I'm Sayoko Murase.