Tuesday 9/13 Insider Buying Report: ORCC, PMT Tuesday, September 13, 1:43 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 Friday, Owl Rock Capital's Vice President, Alexis Maged, made a $434,864 buy of ORCC, purchasing 33,435 shares at a cost of $13.01 each. Bargain hunters have the opportunity to buy ORCC even cheaper than Maged did, with shares trading as low as $12.80 in trading on Tuesday -- that's 1.6% below Maged's purchase price. Owl Rock Capital is trading down about 0.9% on the day Tuesday. This buy marks the first one filed by Maged in the past twelve months.
And on Thursday, CEO David Spector purchased $274,210 worth of Pennymac Mortgage Investment Trust, purchasing 20,000 shares at a cost of $13.71 a piece. Pennymac Mortgage Investment Trust is trading down about 1.7% on the day Tuesday. So far Spector is in the green, up about 8.0% on their buy based on today's trading high of $14.81.
For MarketNewsVideo.com, I'm Sayoko Murase.
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