Thursday 3/7 Insider Buying Report: EVC, WLKP
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.
On Thursday, Entravision Communications' Chief Executive Officer, Michael J. Christenson, made a $167,250 buy of EVC, purchasing 100,000 shares at a cost of $1.67 a piece. Entravision Communications is trading off about 8.1% on the day Thursday.
And on Wednesday, SVP Andrew Kenner purchased $111,500 worth of Westlake Chemical Partners, purchasing 5,000 shares at a cost of $22.30 a piece. Before this latest buy, Kenner bought WLKP on 12 other occasions during the past twelve months, for a total cost of $1.93M at an average of $22.24 per share. Westlake Chemical Partners is trading up about 1.3% on the day Thursday. So far Kenner is in the green, up about 1.7% on their buy based on today's trading high of $22.69.
VIDEO: Thursday 3/7 Insider Buying Report: EVC, WLKP