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Top Yahoo executives Blake Irving and Ross Levinsohn have bought some Yahoo stock on the open market, Kara Swisher at AllThingsD reports, via insider filings.When we say “some” we mean it: The share purchases were for 10,000 at $11.61 for Levinsohn, and 10,000 at $11.23 for Irving.
While it’s pretty much pocket change for those guys, Swisher points out no other Yahoo execs have gone out and bought Yahoo stock in a while.
Why are they buying shares? We’ve reached out to Yahoo for a comment, and we’ll update you if we hear anything noteworthy.
If we had to guess, it’s because A. these guys are true believers in what they’re doing and B., Yahoo’s stock is super duper cheap right now.
Yahoo’s Asian assets alone are worth $16 per share, which is more than the company’s share price now. Add in cash and the core media business, and you’re looking at company that should be worth a lot more.
Irving and Levinsohn probably think they see a bargain, and want to buy in.