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 cash 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 cash to make a purchase, is that they expect to make money.
Today we look at two noteworthy recent insider buys.
At Texas Pacific Land, a filing with the SEC revealed that on Thursday, Director Murray Stahl purchased 25 shares of TPL, at a cost of $1508.68 each, for a total investment of $37,717.
Bargain hunters can pick up TPL at a price even lower than Stahl did, with the stock trading as low as $1445.21 at last check today -- that's 4.2% under Stahl's purchase price.
Texas Pacific Land Corp is trading down about 3.4% on the day Tuesday.
Before this latest buy, Stahl purchased TPL on 122 other occasions during the past twelve months, for a total investment of $5.5M at an average of $1325.40 per share.
And at TRACON Pharmaceuticals, there was insider buying on Monday, by Director Saundra L.
Pelletier who purchased 6,545 shares at a cost of $3.82 each, for a trade totaling $25,002.
TRACON Pharmaceuticals is trading off about 2.1% on the day Tuesday.