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.
On Tuesday, B. Riley Financial's Director, Randall E. Paulson, made a $2.09M buy of RILY, purchasing 40,000 shares at a cost of $52.21 each. So far Paulson is in the green, up about 4.9% on their buy based on today's trading high of $54.79. B. Riley Financial is trading up about 1.2% on the day Wednesday. Before this latest buy, Paulson purchased RILY at 6 other times during the past twelve months, for a total cost of $5.94M at an average of $55.23 per share.
And on Monday, Director Andrew M. Cohn bought $1.5M worth of Global Water Resources, buying 111,000 shares at a cost of $13.50 a piece. Before this latest buy, Cohn bought GWRS at 10 other times during the past twelve months, for a total cost of $1.53M at an average of $16.10 per share. Global Water Resources is trading up about 0.8% on the day Wednesday. Cohn was up about 5.0% on the buy at the high point of today's trading session, with GWRS trading as high as $14.18 in trading on Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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