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 one noteworthy recent insider buy.
At Avid Technology ( AVID ), there was insider buying on Tuesday, by Director Robert M. Bakish who purchased 100,000 shares for a cost of $15.33 each, for a total investment of $1.53M. Before this latest buy, Bakish bought AVID on 5 other occasions during the past year, for a total investment of $3.13M at an average of $12.56 per share. Avid Technology is trading up about 3.8% on the day Friday. So far Bakish is in the green, up about 9.6% on their purchase based on today's trading high of $16.80.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
