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Top Buys by Top Brass: CFO Asmussen's $198.8K Bet on ARNC

By Metals Channel Staff, Friday, July 17, 12:19 PM ET
Play Video: One Reason For Insiders to Buy


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A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $198.8K by Erick R. Asmussen, CFO at Arconic Corp (NYSE:ARNC).

Asmussen bets big on ARNC:

Purchased Insider Title Shares Price/Share Value
05/20/2020 Erick R. Asmussen EVP & CFO 20,000 $9.94 $198,800.00

Asmussen's average cost works out to $9.94/share. Shares of Arconic Corp were changing hands at $16.66 at last check, trading off about 0.6% on Friday. The chart below shows the one year performance of ARNC shares, versus its 200 day moving average:

Arconic Corp Chart

Looking at the chart above, ARNC's low point in its 52 week range is $5.80 per share, with $19.69 as the 52 week high point — that compares with a last trade of $16.66.


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This Article's Word Cloud:   ARNC   Arconic   Asmussen   Bets   Brass   Buys   Corp   Days   Dollars   Erick   Friday   Insider   Insiders   Join   Looking   NYSE   Offer   Place   Presumably   Price   Purchased   Seven   Share   Shares   Special   Start   Title   Value   ValueForum   about   above   average   below   buys   chart   company   insider   last   make   maybe   mdash   point   share   stock   take   that   their   they   week   with

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