Friday 9/13 Insider Buying Report: ACA, PRO
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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Arcosa, a filing with the SEC revealed that on Thursday, Director Steven J. Demetriou purchased 6,000 shares of ACA, for a cost of $87.70 each, for a total investment of $526,200. So far Demetriou is in the green, up about 4.1% on their purchase based on today's trading high of $91.26. Arcosa is trading up about 4% on the day Friday.
And at Pros Holdings, there was insider buying on Thursday, by CEO Andres Reiner who bought 7,500 shares at a cost of $17.20 each, for a trade totaling $129,000. Pros Holdings is trading up about 3.8% on the day Friday. Reiner was up about 7.0% on the buy at the high point of today's trading session, with PRO trading as high as $18.40 at last check today.
VIDEO: Friday 9/13 Insider Buying Report: ACA, PRO