Friday 8/15 Insider Buying Report: PSX, AVNS
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, Phillips 66's Director, Gregory Hayes, made a $1.00M purchase of PSX, buying 8,350 shares at a cost of $119.90 a piece. Hayes was up about 4.1% on the buy at the high point of today's trading session, with PSX trading as high as $124.85 at last check today. Phillips 66 is trading up about 1.3% on the day Friday.
And at Avanos Medical, there was insider buying on Wednesday, by Director Gary Blackford who bought 60,000 shares at a cost of $10.99 each, for a total investment of $659,300. Avanos Medical is trading up about 0.7% on the day Friday.
VIDEO: Friday 8/15 Insider Buying Report: PSX, AVNS