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 Cheniere Energy (AMEX:LNG), a filing with the SEC revealed that on Monday, CEO Jack A. Fusco bought 29,000 shares of LNG, at a cost of $34.27 each, for a total investment of $993,760. So far Fusco is in the green, up about 3.1% on their buy based on today's trading high of $35.34. Cheniere Energy is trading up about 2.7% on the day Tuesday. Before this latest buy, Fusco bought LNG at 2 other times during the past year, for a total cost of $2.43M at an average of $33.30 per share.
And at Paratek Pharmaceuticals (NASDAQ:PRTK), there was insider buying on Thursday, by CEO Michael Bigham who purchased 20,000 shares for a cost of $13.45 each, for a total investment of $269,014. Paratek Pharmaceuticals is trading up about 6.1% on the day Tuesday. Investors are able to snag PRTK at a price even lower than Bigham did, with the stock changing hands as low as $13.09 in trading on Tuesday which is 2.7% under Bigham's purchase price.
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