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 Monday, Pacira Pharmaceuticals Inc. (NASDAQ:PCRX)'s Director, Andreas Wicki, made a $2M buy of PCRX, purchasing 307,692 shares at a cost of $6.50 a piece. So far Wicki is in the green, up about 18.0% on their purchase based on today's trading high of $7.67. Pacira Pharmaceuticals Inc. is trading off about 0.7% on the day Wednesday. Before this latest buy, Wicki made one other purchase in the past year, buying $3.75M shares for a cost of $7.00 each. In the past year, 4 other insiders bought PCRX, in 4 transactions, for a total investment of $5.69M at an average of $7.00 per share.
And at Digital Domain Media Group Incorporated (DDMG), there was insider buying on Friday, by Chief Financial Officer Jonathan Teaford who bought 58,825 shares for a cost of $8.50 each, for a total investment of $500,012. Digital Domain Media Group Incorporated is trading off about 4% on the day Wednesday. Bargain hunters are able to pick up DDMG at a price even lower than Teaford did, with shares changing hands as low as $7.15 in trading on Monday which is 15.9% under Teaford's purchase price.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.