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 Lions Gate Entertainment Corp. ( LGF ), a filing with the SEC revealed that on Friday, Director Gordon Crawford bought 35,000 shares of LGF, at a cost of $31.23 each, for a total investment of $1.09M. Lions Gate Entertainment Corp. is trading up about 2.1% on the day Monday. This purchase marks the first one filed by Crawford in the past twelve months.
And on Wednesday, Chief Financial Officer Patrice de Talhouet bought $436,765 worth of Coty ( COTY ), buying 17,569 shares at a cost of $24.86 each. This purchase marks the first one filed by de Talhouet in the past twelve months. Coty is trading up about 0.6% on the day Monday. de Talhouet was up about 3.6% on the purchase at the high point of today's trading session, with COTY trading as high as $25.76 at last check today.