Monday 3/9 Insider Buying Report: TPC, CSX
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.
On Friday, Tutor Perini's Director, Peter Arkley, made a $1.82M buy of TPC, purchasing 25,000 shares at a cost of $72.96 each. Tutor Perini is trading off about 2.3% on the day Monday. Before this latest buy, Arkley made one other purchase in the past twelve months, buying $2.56M shares for a cost of $64.12 each.
And at CSX, there was insider buying on Friday, by CEO Stephen F. Angel who purchased 25,000 shares at a cost of $40.27 each, for a trade totaling $1.01M. Before this latest buy, Angel made one other purchase in the past year, buying $2.03M shares at a cost of $36.87 a piece. CSX is trading down about 1% on the day Monday. Bargain hunters have the opportunity to buy CSX at a price even lower than Angel did, with shares trading as low as $39.34 in trading on Monday -- that's 2.3% below Angel's purchase price.
VIDEO: Monday 3/9 Insider Buying Report: TPC, CSX