Monday 3/16 Insider Buying Report: KMI, WLB
updated Monday, March 16, 12:47 PMBargain 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 Kinder Morgan (KMI), a filing with the SEC revealed that on Friday, CEO Richard D. Kinder bought 100,000 shares of KMI, for a cost of $39.50 each, for a total investment of $3.95M. Kinder was up about 2.0% on the purchase at the high point of today's trading session, with KMI trading as high as $40.28 at last check today. Kinder Morgan is trading up about 0.9% on the day Monday.
And at Westmoreland Coal (WLB), there was insider buying on Friday, by Chief Executive Officer Keith E. Alessi who bought 18,100 shares for a cost of $23.95 each, for a total investment of $433,495. Westmoreland Coal is trading up about 1.7% on the day Monday. Alessi was up about 6.5% on the buy at the high point of today's trading session, with WLB trading as high as $25.50 in trading on Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.