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 Friday, Barnes & Noble Education's Director, Zachary Levenick, made a $253,700 purchase of BNED, buying 25,000 shares at a cost of $10.15 each. Levenick was up about 4.8% on the purchase at the high point of today's trading session, with BNED trading as high as $10.64 at last check today. Barnes & Noble Education is trading up about 1.6% on the day Wednesday. Before this latest buy, Levenick bought BNED at 3 other times during the past year, for a total investment of $236,340 at an average of $4.82 per share.
And at PEDEVCO, there was insider buying on Friday, by Chief Executive Officer Simon G. Kukes who bought 191,778 shares for a cost of $1.23 each, for a trade totaling $234,975. This buy marks the first one filed by Kukes in the past twelve months. PEDEVCO is trading up about 5.2% on the day Wednesday. Kukes was up about 19.8% on the buy at the high point of today's trading session, with PED trading as high as $1.47 in trading on Wednesday.
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