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 Incyte Corporation (NASDAQ:INCY), a filing with the SEC revealed that on Thursday, Director Paul A. Brooke bought 50,000 shares of INCY, at a cost of $17.70 each, for a total investment of $884,750. Incyte Corporation is trading up about 5.7% on the day Monday.
And also on Thursday, EVP of Operations Finance Kerrin E. Gillespie bought $152,497 worth of Health Management Associates, Inc. (NYSE:HMA), buying 25,000 shares at a cost of $6.10 a piece. This buy marks the first one filed by Gillespie in the past twelve months. Health Management Associates, Inc. is trading up about 2.1% on the day Monday. Gillespie was up about 6.4% on the purchase at the high point of today's trading session, with HMA trading as high as $6.49 at last check today.
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