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.
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 Iridium Communications, a filing with the SEC revealed that on Monday, Director Leon Anthony Frazier bought 2,600 shares of IRDM, at a cost of $37.26 each, for a total investment of $96,876.
So far Frazier is in the green, up about 5.7% on their buy based on today's trading high of $39.39.
Iridium Communications is trading up about 1.9% on the day Wednesday.
This purchase marks the first one filed by Frazier in the past year.
And on Friday, Thibault Christian Stracke bought $86,058 worth of PIMCO Energy and Tactical Credit Opportunities Fund, buying 7,000 shares at a cost of $12.29 a piece.
PIMCO Energy and Tactical Credit Opportunities Fund is trading up about 2.2% on the day Wednesday.
Stracke was up about 7.1% on the purchase at the high point of today's trading session, with NRGX trading as high as $13.17 at last check today.
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..
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..
