Wednesday 8/4 Insider Buying Report: AMG, EPD|
The Online Investor - 11 hours, 23 minutes ago
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.
At Affiliated Managers Group, a filing with the SEC revealed that on Monday, Director Dwight D. Churchill purchased 1,000 shares of AMG, at a cost of $160.89 each, for a total investment of $160,890. Affiliated Managers Group is trading down about 0.4% on the day Wednesday. Before this latest buy, Churchill bought AMG at 2 other times during the past twelve months, for a total cost of $137,240 at an average of $68.62 per share.
And at Enterprise Products Partners, there was insider buying on Friday, by Director John R. Rutherford who purchased 6,000 shares at a cost of $22.73 each, for a total investment of $136,375. Before this latest buy, Rutherford made one other purchase in the past year, buying $76,880 shares for a cost of $19.22 each. Enterprise Products Partners is trading off about 0.7% on the day Wednesday. Investors can pick up EPD at a price even lower than Rutherford did, with the stock changing hands as low as $22.14 at last check today which is 2.6% below Rutherford's purchase price.