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 Tuesday, LRR Energy, L.P. (LRE)'s Co-CEO & Chairman of the Board, Eric D. Mullins, made a $304,983 buy of LRE, purchasing 18,200 shares at a cost of $16.76 each. LRR Energy, L.P. is trading off about 2.1% on the day Thursday. Before this latest buy, Mullins made one other buy in the past twelve months, purchasing $285,000 shares for a cost of $19.00 a piece.
And on Wednesday, Director Richard A. Lerner purchased $230,068 worth of Opko Health Inc (NYSE:OPK), purchasing 50,000 shares at a cost of $4.60 each. This buy marks the first one filed by Lerner in the past year. Opko Health Inc is trading off about 2.2% on the day Thursday. Bargain hunters can buy OPK even cheaper than Lerner did, with the stock trading as low as $4.45 in trading on Thursday -- that's 3.3% under Lerner's purchase price.
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