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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Tuesday, Element Solutions' Director, Martin E. Franklin, made a $17.20M purchase of ESI, buying 902,000 shares at a cost of $19.07 a piece. So far Franklin is in the green, up about 2.3% on their buy based on today's trading high of $19.51. Element Solutions is trading up about 0.9% on the day Wednesday. This buy marks the first one filed by Franklin in the past year.
And on Monday, CEO and Chairman of the Board Joe E. Kiani purchased $3.97M worth of Masimo, purchasing 31,994 shares at a cost of $123.99 a piece. Before this latest buy, Kiani made one other buy in the past twelve months, purchasing $1.01M shares for a cost of $129.27 a piece. Masimo is trading up about 5.5% on the day Wednesday. So far Kiani is in the green, up about 10.5% on their purchase based on today's trading high of $137.03.
For MarketNewsVideo.com, I'm Sayoko Murase.