Monday 3/18 Insider Buying Report: GEO, OPK Monday, March 18, 2:33 PM ET
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.
On Thursday, GEO Group's Executive Chairman, George C. Zoley, made a $624,025 buy of GEO, purchasing 50,000 shares at a cost of $12.48 each. Zoley was up about 4.5% on the buy at the high point of today's trading session, with GEO trading as high as $13.04 in trading on Monday. GEO Group is trading off about 1.4% on the day Monday. This buy marks the first one filed by Zoley in the past year.
And on Wednesday, CEO & Chairman Phillip Frost purchased $463,750 worth of OPKO Health, purchasing 500,000 shares at a cost of $0.93 each. Before this latest buy, Frost bought OPK on 16 other occasions during the past twelve months, for a total cost of $10.82M at an average of $1.07 per share. OPKO Health is trading down about 3.1% on the day Monday. Investors are able to snag OPK even cheaper than Frost did, with shares changing hands as low as $0.86 in trading on Monday -- that's 7.0% under Frost's purchase price.
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