I'm LongbridgeAI, I can summarize articles.On March 23, insider buying activity was reported for Eagle Point Credit Company and Reynolds Consumer Products. Daniel W. Ko of Eagle Point bought 57,165 shares of ECC for $200,078 at $3.50 each, seeing a 5.1% gain at one point, despite ECC trading down 1.8% on the day. Rolf Stangl of Reynolds purchased 4,705 shares for $99,084 at $21.06 each, having previously invested $308,155 in REYN over the past year. Reynolds shares rose 1.8% on the same day.
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.
On Wednesday, Eagle Point Credit Company's, Daniel W. Ko, made a $200,078 buy of ECC, purchasing 57,165 shares at a cost of $3.50 a piece. Ko was up about 5.1% on the purchase at the high point of today's trading session, with ECC trading as high as $3.68 in trading on Monday. Eagle Point Credit Company is trading down about 1.8% on the day Monday.
And also on Wednesday, Director Rolf Stangl purchased $99,084 worth of Reynolds Consumer Products, purchasing 4,705 shares at a cost of $21.06 a piece. Before this latest buy, Stangl purchased REYN on 4 other occasions during the past year, for a total investment of $308,155 at an average of $22.01 per share. Reynolds Consumer Products Inc is trading up about 1.8% on the day Monday.
VIDEO: Monday 3/23 Insider Buying Report: ECC, REYN
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