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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 Wednesday, Match Group’s Chief Executive Officer, Bernard Jin Kim, made a $1.08M purchase of MTCH, buying 31,439 shares at a cost of $34.44 a piece. Kim was up about 8.9% on the purchase at the high point of today’s trading session, with MTCH trading as high as $37.49 at last check today. Match Group is trading up about 8.6% on the day Thursday. Before this latest buy, Kim made one other purchase in the past year, buying $1.02M shares at a cost of $63.58 a piece.
And also on Wednesday, Jamie Odell purchased $589,800 worth of Light & Wonder, purchasing 10,000 shares at a cost of $58.98 each. Light & Wonder is trading up about 4.1% on the day Thursday.
VIDEO: Thursday 6/1 Insider Buying Report: MTCH, LNW
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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