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Monday 11/21 Insider Buying Report: ESAB, INTC
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.
On Wednesday, Esab's Director, Mitchell P. Rales, made a $20M purchase of ESAB, buying 500,000 shares at a cost of $40.00 a piece. Rales was up about 15.1% on the purchase at the high point of today's trading session, with ESAB trading as high as $46.02 in trading on Monday. Esab is trading up about 0.4% on the day Monday.
And at Intel, there was insider buying on Wednesday, by Director Tan Lip Bu who bought 50,000 shares for a cost of $29.49 each, for a trade totaling $1.47M. Before this latest buy, Tan bought INTC on 2 other occasions during the past year, for a total investment of $1.4M at an average of $27.96 per share. Intel is trading off about 1.4% on the day Monday.
The preceding is a transcript of the MarketNewsVideo.com video published at: https://www.marketnewsvideo.com/?id=20221120221121insiderESABI&mv=1.