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 DISH Network, a filing with the SEC revealed that on Friday, James Defranco purchased 3,000,000 shares of DISH, for a cost of $6.20 each, for a total investment of $18.59M. Defranco was up about 13.2% on the purchase at the high point of today's trading session, with DISH trading as high as $7.01 in trading on Tuesday. DISH Network is trading up about 1% on the day Tuesday. Before this latest buy, Defranco bought DISH on 9 other occasions during the past year, for a total cost of $39.13M at an average of $12.79 per share.
And also on Friday, Executive Chairman Kelcy L. Warren bought $6.14M worth of Energy Transfer, buying 500,000 shares at a cost of $12.27 a piece. Before this latest buy, Warren bought ET at 9 other times during the past year, for a total investment of $142.27M at an average of $12.11 per share. Energy Transfer is trading down about 0.5% on the day Tuesday. So far Warren is in the green, up about 2.4% on their purchase based on today's trading high of $12.56.
VIDEO: Tuesday 5/16 Insider Buying Report: DISH, ET
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