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Wednesday 12/8 Insider Buying Report: SNEX, UEPS
Wednesday, December 8, 1:45 PM ET

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 Stonex Group, a filing with the SEC revealed that on Friday, Director Dhamu R. Thamodaran bought 5,000 shares of SNEX, at a cost of $61.25 each, for a total investment of $306,250. So far Thamodaran is in the green, up about 5.2% on their purchase based on today's trading high of $64.44. Stonex Group is trading down about 0.7% on the day Wednesday. This buy marks the first one filed by Thamodaran in the past twelve months.

And on Monday, CEO Lincoln Camagu Mali bought $217,400 worth of Net 1 UEPS Technologies, buying 42,143 shares at a cost of $5.16 each. Net 1 UEPS Technologies is trading up about 8.8% on the day Wednesday. Bargain hunters are able to snag UEPS at a price even lower than Mali did, with the stock changing hands as low as $4.58 at last check today which is 11.2% under Mali's purchase price.

For MarketNewsVideo.com, I'm Sayoko Murase.

Wednesday 12/8 Insider Buying Report: SNEX, UEPS picture
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Wednesday 12/8 Insider Buying Report: SNEX, UEPS | Market News Video | Copyright © 2008 - 2021, All Rights Reserved

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