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, Lucky Strike Entertainment’s Director, John Alan Young, made a $633,944 buy of LUCK, purchasing 4,200 shares at a cost of $150.94 a piece. Bargain hunters are able to pick up LUCK even cheaper than Young did, with the stock changing hands as low as $6.28 at last check today — that’s 95.8% under Young’s purchase price. Lucky Strike Entertainment is trading up about 4.9% on the day Wednesday. Before this latest buy, Young bought LUCK on 3 other occasions during the past year, for a total cost of $87,345 at an average of $7.11 per share.
And on Monday, CEO Jabbok Schlacks bought $440,395 worth of EQUIPMENTSHARE.com, buying 25,000 shares at a cost of $17.62 each. Before this latest buy, Schlacks made one other purchase in the past year, buying $1.06M shares for a cost of $21.12 a piece. EQUIPMENTSHARE.com is trading up about 3.2% on the day Wednesday.
VIDEO: Wednesday 9/2 Insider Buying Report: LUCK, EQPT
