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Thursday 4/9 Insider Buying Report: KYN, NMM Thursday, April 9, 10:32 AM ET 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.
At Kayne Anderson MLP Investment Company (KYN), a filing with the SEC revealed that on Wednesday, President James C. Baker purchased 25,000 shares of KYN, at a cost of $13.67 each, for a total investment of $341,750. So far Baker is in the green, up about 3.9% on their buy based on today's trading high of $14.20. Kayne Anderson MLP Investment Company is trading up about 2.3% on the day Thursday. Before this latest buy, Baker purchased KYN at 7 other times during the past twelve months, for a total cost of $2.23M at an average of $12.72 per share.
And also on Wednesday, See Remarks Angeliki Frangou purchased $253,025 worth of Navios Maritime Partners LP (NMM), purchasing 3,581 shares at a cost of $70.66 a piece. Before this latest buy, Frangou purchased NMM at 4 other times during the past twelve months, for a total investment of $923,780 at an average of $66.91 per share. Navios Maritime Partners LP is trading up about 0.2% on the day Thursday. Frangou was up about 2.7% on the purchase at the high point of today's trading session, with NMM trading as high as $72.55 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase. | |
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