Friday 6/20 Insider Buying Report: CNDT, MMS
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 Wednesday, Conduent's Director, Harshavardhan V. Agadi, made a $281,000 purchase of CNDT, buying 100,000 shares at a cost of $2.81 a piece. Bargain hunters can snag CNDT even cheaper than Agadi did, with the stock changing hands as low as $2.61 in trading on Friday which is 7.1% below Agadi's purchase price. Conduent is trading up about 1.7% on the day Friday.
And on Monday, Raymond B. Ruddy bought $99,962 worth of MAXIMUS, buying 1,435 shares at a cost of $69.66 each. Before this latest buy, Ruddy made one other purchase in the past year, buying $249,395 shares for a cost of $71.46 each. MAXIMUS is trading down about 2.7% on the day Friday. Bargain hunters are able to pick up MMS at a price even lower than Ruddy did, with the stock changing hands as low as $67.25 at last check today which is 3.5% under Ruddy's purchase price.
VIDEO: Friday 6/20 Insider Buying Report: CNDT, MMS