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 Wednesday, Simply Good Foods's Director, James M. Kilts, made a $1.72M buy of SMPL, purchasing 70,000 shares at a cost of $24.62 each. Kilts was up about 4.6% on the buy at the high point of today's trading session, with SMPL trading as high as $25.75 at last check today. Simply Good Foods is trading up about 1.2% on the day Friday. Before this latest buy, Kilts made one other purchase in the past year, buying $7,456 shares at a cost of $23.82 each.
And at Lions Gate Entertainment, there was insider buying on Thursday, by Director Gordon Crawford who bought 122,414 shares at a cost of $8.87 each, for a trade totaling $1.09M. Lions Gate Entertainment is trading up about 2.2% on the day Friday.
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