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.
On Friday, NuStar Energy L.P. (NYSE:NS)'s Director, William E. Greehey, made a $10M purchase of NS, buying 187,000 shares at a cost of $53.45 each. Greehey was up about 1.5% on the buy at the high point of today's trading session, with NS trading as high as $54.26 at last check today. NuStar Energy L.P. is trading up about 0.4% on the day Tuesday. Before this latest buy, Greehey bought NS on 5 other occasions during the past twelve months, for a total cost of $10.45M at an average of $62.58 per share. In the past year, 2 other insiders purchased NS, in 3 transactions, for a total investment of $170,821 at an average of $56.94 per share.
And on Monday, Director Karen Brenner bought $213,141 worth of Alleghany Corp. (Y), buying 750 shares at a cost of $284.19 each. Alleghany Corp. is trading up about 0.8% on the day Tuesday. So far Brenner is in the green, up about 0.7% on their buy based on today's trading high of $286.08.
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