Apr 18, 2022 (MarketNewsVideo.com via COMTEX) --
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.
At Rocket Companies, a filing with the SEC revealed that on Wednesday, Chief Executive Officer Jay Farner bought 61,500 shares of RKT, for a cost of $9.72 each, for a total investment of $597,710. Bargain hunters are able to pick up RKT at a price even lower than Farner did, with the stock trading as low as $9.17 in trading on Monday which is 5.6% below Farner's purchase price. Rocket Companies is trading down about 0.8% on the day Monday. Before this latest buy, Farner purchased RKT at 4 other times during the past twelve months, for a total investment of $1.26M at an average of $10.53 per share.
And at Pennant Group, there was insider buying on Thursday, by Director Christopher R. Christensen who bought 27,332 shares for a cost of $16.50 each, for a trade totaling $450,958. This buy marks the first one filed by Christensen in the past twelve months. Pennant Group is trading up about 2.2% on the day Monday. So far Christensen is in the green, up about 7.6% on their purchase based on today's trading high of $17.76.
The preceding is a transcript of the MarketNewsVideo.com video published at: https://www.marketnewsvideo.com/?id=20220420220418insiderRKTPN&mv=1 .
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