Monday 3/16 Insider Buying Report: FOX, PTLO
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 Fox, a filing with the SEC revealed that on Friday, Executive Chair, CEO Lachlan K. Murdoch purchased 175,372 shares of FOX, for a cost of $60.63 each, for a total investment of $10.63M. Investors are able to pick up FOX even cheaper than Murdoch did, with shares changing hands as low as $52.14 in trading on Monday -- that's 14.0% under Murdoch's purchase price. Fox is trading up about 0.8% on the day Monday. This buy marks the first one filed by Murdoch in the past twelve months.
And at Portillos, there was insider buying on Friday, by Director Eugene I. Lee Jr. who purchased 286,000 shares at a cost of $5.18 each, for a total investment of $1.48M. Before this latest buy, Lee Jr. made one other buy in the past twelve months, purchasing $1.00M shares at a cost of $7.68 each. Portillos is trading up about 6.2% on the day Monday. So far Lee Jr. is in the green, up about 15.3% on their buy based on today's trading high of $5.97.
VIDEO: Monday 3/16 Insider Buying Report: FOX, PTLO