Friday 3/11 Insider Buying Report: COP, NUS
updated Friday, March 11, 10:33 AMBargain 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 ConocoPhillips (COP), a filing with the SEC revealed that on Wednesday, Director Arjun N. Murti bought 7,500 shares of COP, at a cost of $39.24 each, for a total investment of $294,294. So far Murti is in the green, up about 2.7% on their buy based on today's trading high of $40.28. ConocoPhillips is trading up about 2.8% on the day Friday. Before this latest buy, Murti made one other purchase in the past twelve months, buying $249,500 shares at a cost of $49.90 a piece.
And at NU Skin Enterprises (NUS), there was insider buying on Tuesday, by Chief Financial Officer Ritch N. Wood who purchased 7,500 shares for a cost of $33.32 each, for a total investment of $249,900. NU Skin Enterprises is trading up about 2.6% on the day Friday. So far Wood is in the green, up about 8.6% on their purchase based on today's trading high of $36.19.
For MarketNewsVideo.com, I'm Sayoko Murase.