Friday 8/1 Insider Buying Report: CCO, CHTR
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 Thursday, Clear Channel Outdoor Holdings', Arturo R. Moreno, made a $1.59M buy of CCO, purchasing 1,478,507 shares at a cost of $1.08 a piece. Clear Channel Outdoor Holdings is trading up about 0.8% on the day Friday. Before this latest buy, Moreno purchased CCO on 17 other occasions during the past twelve months, for a total investment of $14.91M at an average of $1.06 per share.
And also on Thursday, CEO Christopher L. Winfrey purchased $1.00M worth of Charter Communications, purchasing 3,670 shares at a cost of $273.10 each. Charter Communications is trading down about 0.6% on the day Friday. Bargain hunters are able to snag CHTR at a price even lower than Winfrey did, with shares trading as low as $267.67 in trading on Friday -- that's 2.0% under Winfrey's purchase price.
VIDEO: Friday 8/1 Insider Buying Report: CCO, CHTR