Markets

Thursday 8/15 Insider Buying Report: PRTY, CIT

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 Monday, Party City Holdco (PRTY)'s Chief Executive Officer, James M. Harrison, made a $566,250 purchase of PRTY, buying 125,000 shares at a cost of $4.53 each. Investors can grab PRTY even cheaper than Harrison did, with the stock changing hands as low as $4.19 at last check today — that's 7.5% under Harrison's purchase price. Party City Holdco is trading down about 0.5% on the day Thursday. Before this latest buy, Harrison bought PRTY at 2 other times during the past year, for a total cost of $998,497 at an average of $9.84 per share.

And at CIT Group (CIT), there was insider buying on Tuesday, by CEO Ellen R. Alemany who purchased 11,500 shares at a cost of $43.55 each, for a trade totaling $500,817. CIT Group is trading up about 2.5% on the day Thursday. Investors can buy CIT at a price even lower than Alemany did, with shares changing hands as low as $41.01 in trading on Thursday which is 5.8% below Alemany's purchase price.

VIDEO: Thursday 8/15 Insider Buying Report: PRTY, CIT

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

PRTY CIT

Other Topics

Stocks

Latest Markets Videos

    BNK Invest

    BNK Invest Inc. provides investment services and information. BNK Invest owns and operates a market news family of websites including DividendChannel, ETFChannel, StockOptionsChannel, and others, which make up an investor community featuring stock message boards, ratings, research, and strategies. BNK Invest caters to investing firms and individual investors internationally.

    Learn More