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 Devon Energy, a filing with the SEC revealed that on Monday, CEO Richard E. Muncrief bought 15,000 shares of DVN, for a cost of $44.42 each, for a total investment of $666,300. Devon Energy is trading up about 1.1% on the day Tuesday. Before this latest buy, Muncrief made one other purchase in the past twelve months, buying $377,250 shares for a cost of $50.30 a piece.
And also on Monday, Chief Executive Officer Bradley Lee Soultz bought $238,788 worth of WillScot Mobile Mini Holdings, buying 5,000 shares at a cost of $47.76 a piece. Before this latest buy, Soultz purchased WSC on 3 other occasions during the past year, for a total cost of $605,802 at an average of $40.39 per share. WillScot Mobile Mini Holdings is trading down about 0.5% on the day Tuesday.
VIDEO: Tuesday 3/5 Insider Buying Report: DVN, WSC
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