Monday 8/31 Insider Buying Report: DSW, MPLX
The Online Investor - 21 hours, 32 minutes ago
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 DSW (DSW), a filing with the SEC revealed that on Wednesday, Director Joseph A. Schottenstein bought 500,000 shares of DSW, for a cost of $28.32 each, for a total investment of $14.16M. Schottenstein was up about 6.6% on the purchase at the high point of today's trading session, with DSW trading as high as $30.18 in trading on Monday. DSW is trading up about 3.4% on the day Monday. This purchase marks the first one filed by Schottenstein in the past twelve months.
And on Thursday, Chief Executive Officer Gary R. Heminger bought $850,088 worth of MPLX (MPLX), buying 17,450 shares at a cost of $48.72 each. Before this latest buy, Heminger made one other buy in the past twelve months, purchasing $571,057 shares at a cost of $61.40 each. MPLX is trading down about 2.5% on the day Monday.