As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Wednesday, Hartford Financial Services Group Inc. (NYSE:HIG)'s Director, Trevor Fetter, made a $104,600 purchase of HIG, buying 5,000 shares at a cost of $20.92 each. Bargain hunters can pick up HIG even cheaper than Fetter did, with shares changing hands as low as $20.30 in trading on Monday which is 3.0% below Fetter's purchase price. Hartford Financial Services Group Inc. is trading off about 2.7% on the day Monday.
And at Keryx Biopharmaceuticals Inc. (NASDAQ:KERX), there was insider buying on Wednesday, by Chief Executive Officer Ron Bentsur who purchased 71,400 shares for a cost of $1.38 each, for a trade totaling $98,525. Keryx Biopharmaceuticals Inc. is trading off about 6.8% on the day Monday. Bentsur was up about 13.1% on the purchase at the high point of today's trading session, with KERX trading as high as $1.56 at last check today.
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.