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 Friday, PNC Financial Services Group’s President/CEO, William S. Demchak, made a $1.00M buy of PNC, purchasing 6,550 shares at a cost of $153.38 a piece. So far Demchak is in the green, up about 4.1% on their purchase based on today’s trading high of $159.73. PNC Financial Services Group is trading down about 0.4% on the day Tuesday. This buy marks the first one filed by Demchak in the past year.
And on Thursday, Chief Operating Officer Giordano Sordoni bought $171,894 worth of XOS, buying 168,268 shares at a cost of $1.02 a piece. Xos is trading down about 1.8% on the day Tuesday.
VIDEO: Tuesday 1/24 Insider Buying Report: PNC, XOS
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