Friday 3/8 Insider Buying Report: ARNC, UVE
updated Friday, March 8, 10:33 AM
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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Arconic, a filing with the SEC revealed that on Thursday, CEO John C. Plant bought 105,000 shares of ARNC, at a cost of $18.51 each, for a total investment of $1.94M. Investors have the opportunity to bag ARNC even cheaper than Plant did, with shares changing hands as low as $18.11 in trading on Friday which is 2.1% under Plant's purchase price. Arconic is trading up about 0.3% on the day Friday.
And at Universal Insurance Holdings, there was insider buying on Wednesday, by COO Stephen Donaghy who purchased 20,000 shares at a cost of $31.50 each, for a trade totaling $630,000. Universal Insurance Holdings is trading up about 1.4% on the day Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.