Wednesday 11/8 Insider Buying Report: AWK, VFC
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At American Water Works, a filing with the SEC revealed that on Monday, Director Michael Marberry purchased 3,786 shares of AWK, for a cost of $130.20 each, for a total investment of $492,937. Bargain hunters are able to snag AWK at a price even lower than Marberry did, with shares trading as low as $125.75 at last check today -- that's 3.4% below Marberry's purchase price. American Water Works is trading off about 0.7% on the day Wednesday. Before this latest buy, Marberry bought AWK at 2 other times during the past year, for a total cost of $319,831 at an average of $143.74 per share.
And at VFC, there was insider buying on Friday, by Director Matthew J. Shattock who bought 20,000 shares for a cost of $15.31 each, for a total investment of $306,140. VFC is trading off about 0.6% on the day Wednesday. So far Shattock is in the green, up about 5.3% on their buy based on today's trading high of $16.12.
