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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Tuesday, Petco Health & Wellness’ CEO & Chairman, Ron Coughlin, made a $504,801 purchase of WOOF, buying 61,040 shares at a cost of $8.27 a piece. Coughlin was up about 8.2% on the purchase at the high point of today’s trading session, with WOOF trading as high as $8.95 at last check today. Petco Health & Wellness is trading up about 4% on the day Wednesday. This purchase marks the first one filed by Coughlin in the past twelve months.
And at Dollar Tree, there was insider buying on Monday, by Chief Financial Officer Jeffrey A. Davis who purchased 1,790 shares at a cost of $139.06 each, for a trade totaling $248,917. Dollar Tree is trading up about 0.7% on the day Wednesday. Davis was up about 3.4% on the purchase at the high point of today’s trading session, with DLTR trading as high as $143.77 in trading on Wednesday.
VIDEO: Wednesday 3/29 Insider Buying Report: WOOF, DLTR
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