We provide the latest news
from the world of economics and financeBargain 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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At EchoStar, a filing with the SEC revealed that on Thursday, James Defranco bought 90,000 shares of SATS, for a cost of $13.21 each, for a total investment of $1.19M. So far Defranco is in the green, up about 15.9% on their buy based on today's trading high of $15.31. EchoStar is trading up about 10.4% on the day Monday.
And at Lions Gate Entertainment, there was insider buying on Thursday, by Chief Executive Officer Jon Feltheimer who bought 100,000 shares for a cost of $8.84 each, for a trade totaling $884,000. This purchase marks the first one filed by Feltheimer in the past year. Lions Gate Entertainment is trading up about 11.2% on the day Monday. Feltheimer was up about 8.3% on the buy at the high point of today's trading session, with LGF.B trading as high as $9.57 at last check today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.