Monday 4/25 Insider Buying Report: UAL, AA
updated Monday, April 25, 10:37 AM
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At United Continental Holdings, a filing with the SEC revealed that on Friday, CEO Oscar Munoz bought 19,800 shares of UAL, at a cost of $50.53 each, for a total investment of $1.00M. So far Munoz is in the green, up about 1.8% on their purchase based on today's trading high of $51.45. United Continental Holdings is trading up about 0.3% on the day Monday.
And on Wednesday, Director Ratan Tata bought $22,285 worth of Alcoa, buying 2,150 shares at a cost of $10.37 each. Before this latest buy, Tata purchased AA at 2 other times during the past twelve months, for a total cost of $65,254 at an average of $9.04 per share. Alcoa is trading off about 2.6% on the day Monday. Bargain hunters are able to snag AA at a price even lower than Tata did, with the stock changing hands as low as $10.13 at last check today -- that's 2.3% below Tata's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.