As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.
At Caesars Entertainment, a filing with the SEC revealed that on Friday, Director Michael E. Pegram purchased 15,000 shares of CZR, for a cost of $41.90 each, for a total investment of $628,562. So far Pegram is in the green, up about 8.2% on their purchase based on today’s trading high of $45.35. Caesars Entertainment is trading up about 6.6% on the day Tuesday. Before this latest buy, Pegram made one other buy in the past year, purchasing $1.13M shares for a cost of $45.02 each.
And on Monday, Chief Executive Officer Joseph D. Margolis purchased $496,482 worth of Extra Space Storage, purchasing 4,200 shares at a cost of $118.21 each. Extra Space Storage is trading up about 7.3% on the day Tuesday. Margolis was up about 7.1% on the purchase at the high point of today’s trading session, with EXR trading as high as $126.62 at last check today.
VIDEO: Tuesday 11/14 Insider Buying Report: CZR, EXR
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