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 Mondelez International ( MDLZ ), a filing with the SEC revealed that on Friday, Director Peter W. May bought 1,028,600 shares of MDLZ, for a cost of $44.27 each, for a total investment of $45.54M. May was up about 0.9% on the purchase at the high point of today's trading session, with MDLZ trading as high as $44.65 in trading on Monday. Mondelez International is trading up about 0.5% on the day Monday.
And also on Friday, Director Edward P. Garden purchased $20.4M worth of Bank of New York Mellon Corp ( BK ), purchasing 360,000 shares at a cost of $56.67 each. This purchase marks the first one filed by Garden in the past twelve months. Bank of New York Mellon Corp is trading off about 0.7% on the day Monday.
VIDEO: Monday 3/12 Insider Buying Report: MDLZ, BK
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.
