- Insider buying can be an encouraging signal for potential investors during periods of uncertainty.
- A number of executives and other insiders returned to the buy window last week.
- A notable activist investor again added to his stake in an old-school tech company.
insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty.” data-reactid=”23″>Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty.
Insiders continued to add shares despite overall market volatility and economic uncertainty. Here are some of the most noteworthy insider purchases reported in the past week.
RRR), Frank Fertitta, and another director bought via trust 2.31 million shares altogether of this casino operator at $13.90 to $15.64 apiece. That totaled more than $33.21 million. Both of them purchased some shares in the previous week too.
AXS) returned last week to add to his stake. The 554,000 shares of this insurer indirectly scooped up, at prices ranging from $44.35 to $46.00, totaled more than $25.21 million. This director also bought over $30 million in shares in the previous week.
XRX) saw 10% owner Carl Icahn add to his stake again. He indirectly acquired over 1.29 million more shares for $17.20 to $17.70 each. That totaled almost $22.79 million. Icahn purchased more than 1.81 million shares in the prior week.
IAC) had a director pick up 40,500 shares via trust of this internet platform provider last week. At prices ranging from $122.05 to $123.09 per share, that came to more than $4.98 million. Furthermore, an executive sold almost 3,100 shares last week.
CDLX) shares. The total for the transactions came to over $4.95 million. Note that the executive board chair, the CEO and other executives sold small batches of shares during the week.
Xerox Trades Higher After Carl Icahn Buys Shares” data-reactid=”34″>See also: Xerox Trades Higher After Carl Icahn Buys Shares
UPWK) director stepped up to the buy window again early last week. The 321,900 shares of this online talent marketplace operator were priced at $13.94 to $15.00 each. That cost him around $4.72 million. This director also purchased almost 226,000 shares in the prior week.
VIRT) saw CEO Douglas Cifu add shares to his stake. At prices ranging from $21.71 to $22.86 apiece, the 100,000 shares acquired cost him more than $2.24 million and increased his stake in this New York-based company to over 292,700 shares.
HOG) saw its board chair and acting president, Jochen Zeitz, return to the buy window. He added more than 71,400 shares of this iconic motorcycle maker. At an average of $27.86 per share, that totaled more than $1.99 million. He last bought shares in May.
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