Thursday 4/24 Insider Buying Report: KEY, CCO
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At KeyCorp, a filing with the SEC revealed that on Monday, Chief Risk Officer Mohit Ramani bought 10,000 shares of KEY, at a cost of $13.75 each, for a total investment of $137,500. Ramani was up about 7.9% on the buy at the high point of today's trading session, with KEY trading as high as $14.84 at last check today. KeyCorp is trading up about 2.2% on the day Thursday. This purchase marks the first one filed by Ramani in the past year.
And at Clear Channel Outdoor Holdings, there was insider buying on Tuesday, by Arturo R. Moreno who bought 83,221 shares at a cost of $0.96 each, for a total investment of $79,846. Before this latest buy, Moreno bought CCO at 7 other times during the past year, for a total cost of $12.01M at an average of $1.05 per share. Clear Channel Outdoor Holdings Inc is trading up about 1.8% on the day Thursday. So far Moreno is in the green, up about 6.3% on their buy based on today's trading high of $1.02.
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