Insider buying is always good to see. It shows confidence among executives and board members, and, when the activity is rising, accelerating, and setting records, as it is with Reynolds Consumer Products (NASDAQ: REYN), it can signal a significant change in market dynamics. The data reported by InsiderTrades reveals insiders have been buying this stock since the start of the year.
Activity began to pick up in May, accelerated in June, and hit record levels in August. While purchases have been made by numerous insiders, including directors and the CAO, the bulk of the buying was by one man, Director Duncan Hawksby. His purchases topped $1.6 million and reflect significant confidence in the value and long-term outlook.
