Wednesday 7/30 Insider Buying Report: NEGG, EPD
Wednesday, July 30, 10:47 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.
On Tuesday, Newegg Commerce's , Vladimir Galkin, made a $5.87M buy of NEGG, purchasing 138,757 shares at a cost of $42.33 each. Newegg Commerce is trading down about 16.6% on the day Wednesday. Before this latest buy, Galkin purchased NEGG on 5 other occasions during the past twelve months, for a total investment of $33.62M at an average of $30.71 per share.
And at Enterprise Products Partners, there was insider buying on Tuesday, by John R. Rutherford who purchased 15,000 shares at a cost of $31.35 each, for a total investment of $470,220. Enterprise Products Partners is trading up about 0.1% on the day Wednesday. So far Rutherford is in the green, up about 0.8% on their purchase based on today's trading high of $31.60.
For MarketNewsVideo.com, I'm Sayoko Murase.
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