Friday 9/15 Insider Buying Report: AAP, VIRT Friday, September 15, 11:28 AM 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.
At Advance Auto Parts, a filing with the SEC revealed that on Wednesday, Director Eugene I. Lee Jr. bought 8,670 shares of AAP, at a cost of $57.65 each, for a total investment of $499,818. So far Lee Jr. is in the green, up about 6.0% on their purchase based on today's trading high of $61.10. Advance Auto Parts is trading up about 1.2% on the day Friday. Before this latest buy, Lee Jr. made one other purchase in the past twelve months, buying $500,160 shares at a cost of $65.51 a piece.
And also on Wednesday, Co-President & Co-COO Joseph Molluso purchased $257,481 worth of Virtu Financial, purchasing 15,000 shares at a cost of $17.17 each. This buy marks the first one filed by Molluso in the past year. Virtu Financial is trading off about 1.5% on the day Friday. So far Molluso is in the green, up about 4.7% on their buy based on today's trading high of $17.98.
For MarketNewsVideo.com, I'm Sayoko Murase.
|