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 Halliburton Company (NYSE:HAL), a filing with the SEC revealed that on Friday, Director Murry Gerber bought 30,000 shares of HAL, at a cost of $36.84 each, for a total investment of $1.11M. Halliburton Company is trading down about 1.8% on the day Tuesday.
And at ShoreTel Inc (NASDAQ:SHOR), there was insider buying on Monday, by Director Gary James Daichendt who bought 91,900 shares for a cost of $5.47 each, for a trade totaling $503,061. Before this latest buy, Daichendt made one other buy in the past twelve months, purchasing $302,693 shares for a cost of $5.55 each. Daichendt was up about 6.9% on the buy at the high point of today's trading session, with SHOR trading as high as $5.85 in trading on Tuesday.
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