updated Wednesday, August 11, 2:14 PM
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 Tuesday, New York Community Bancorp's Director, Ronald A. Rosenfeld, made a $247,000 buy of NYCB, purchasing 20,000 shares at a cost of $12.35 a piece. New York Community Bancorp is trading up about 0.7% on the day Wednesday. Before this latest buy, Rosenfeld purchased NYCB on 2 other occasions during the past year, for a total investment of $284,768 at an average of $11.39 per share.
And at Crown Holdings, there was insider buying on Tuesday, by B. Craig Owens who purchased 2,000 shares for a cost of $105.62 each, for a total investment of $211,249. Crown Holdings is trading up about 1.5% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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