Thursday 9/29 Insider Buying Report: SCHL, NEOG Thursday, September 29, 2:11 PM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Tuesday, Scholastic's CEO, Peter Warwick, made a $100,692 buy of SCHL, purchasing 3,245 shares at a cost of $31.03 a piece. Bargain hunters are able to buy SCHL even cheaper than Peter did, with the stock changing hands as low as $28.94 in trading on Thursday which is 6.7% under Warwick's purchase price. Scholastic is trading up about 3.9% on the day Thursday.
And on Wednesday, Chief Operating Officer Douglas Edward Jones purchased $100,170 worth of Neogen, purchasing 7,000 shares at a cost of $14.31 a piece. Before this latest buy, Jones made one other buy in the past twelve months, purchasing $50,092 shares at a cost of $35.78 a piece. Neogen is trading up about 0.8% on the day Thursday. So far Jones is in the green, up about 4.0% on their buy based on today's trading high of $14.88.
For MarketNewsVideo.com, I'm Sayoko Murase.
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