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.
At Home Depot ( HD ), a filing with the SEC revealed that on Wednesday, Director Gregory D. Brenneman purchased 40,000 shares of HD, at a cost of $124.73 each, for a total investment of $4.99M. Brenneman was up about 1.8% on the buy at the high point of today's trading session, with HD trading as high as $126.99 in trading on Monday. Home Depot is trading down about 0.5% on the day Monday.
And at Avis Budget Group ( CAR ), there was insider buying on Thursday, by Director Eduardo G. Mestre who purchased 20,000 shares for a cost of $23.77 each, for a trade totaling $475,400. This buy marks the first one filed by Mestre in the past year. Avis Budget Group is trading up about 3.8% on the day Monday. So far Mestre is in the green, up about 9.4% on their purchase based on today's trading high of $26.00.
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.
