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 Monday, WPX Energy ( WPX )'s CEO, Richard E. Muncrief, made a $303,870 purchase of WPX, buying 14,000 shares at a cost of $21.70 a piece. WPX Energy is trading up about 1% on the day Wednesday. This buy marks the first one filed by Muncrief in the past twelve months.
And also on Monday, CEO Gary J. Wojtaszek purchased $228,054 worth of CyrusOne ( CONE ), purchasing 10,000 shares at a cost of $22.81 each. Before this latest buy, Wojtaszek made one other purchase in the past year, buying $130,368 shares at a cost of $21.83 a piece. CyrusOne is trading down about 0.3% on the day Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
