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.
At Coty, a filing with the SEC revealed that on Friday, Chief Executive Officer Sue Nabi bought 304,786 shares of COTY, for a cost of $8.29 each, for a total investment of $2.53M. Coty, is trading up about 5% on the day Tuesday.
And at AMN Healthcare Services, there was insider buying on Friday, by CFO/CAO Jeffrey R. Knudson who purchased 5,360 shares at a cost of $93.30 each, for a trade totaling $500,087. This buy marks the first one filed by Knudson in the past twelve months. AMN Healthcare Services is trading up about 4.3% on the day Tuesday. So far Knudson is in the green, up about 7.2% on their buy based on today's trading high of $100.00.
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