Tuesday 5/5 Insider Buying Report: PS, TMUS
Tuesday, May 5, 10:36 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 Pershing Square, a filing with the SEC revealed that on Thursday, CEO & Chairman William A. Ackman bought 800,000 shares of PS, at a cost of $23.77 each, for a total investment of $19.02M. Ackman was up about 51.4% on the buy at the high point of today's trading session, with PS trading as high as $35.98 in trading on Tuesday. Pershing Square is trading up about 1.3% on the day Tuesday.
And on Friday, Andre Almeida bought $1.00M worth of T-Mobile US, buying 5,097 shares at a cost of $196.18 each. T-Mobile US is trading up about 0.4% on the day Tuesday. Investors are able to bag TMUS even cheaper than Almeida did, with the stock trading as low as $192.69 at last check today -- that's 1.8% below Almeida's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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