Thursday 9/17 Insider Buying Report: FOX, KBDC
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 Tuesday, Fox's Executive Chair, CEO, Lachlan K. Murdoch, made a $10.27M purchase of FOX, buying 149,934 shares at a cost of $68.53 a piece. Investors can pick up FOX even cheaper than Murdoch did, with the stock trading as low as $58.66 at last check today which is 14.4% below Murdoch's purchase price. Fox is trading off about 0.3% on the day Thursday. Before this latest buy, Murdoch made one other purchase in the past year, buying $10.63M shares at a cost of $60.63 a piece.
And on Wednesday, Director James L. Robo bought $5.21M worth of Kayne Anderson BDC, buying 400,000 shares at a cost of $13.03 a piece. This buy marks the first one filed by Robo in the past year. Kayne Anderson BDC is trading up about 2.5% on the day Thursday. So far Robo is in the green, up about 2.9% on their purchase based on today's trading high of $13.41
VIDEO: Thursday 9/17 Insider Buying Report: FOX, KBDC 