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 Tuesday, Bank of America Corp. (NYSE:BAC)'s Director, Charles K. Gifford, made a $3.55M buy of BAC, purchasing 482,794 shares at a cost of $7.36 each. Gifford was up about 3.3% on the purchase at the high point of today's trading session, with BAC trading as high as $7.60 in trading on Thursday. Bank of America Corp. is trading up about 0.8% on the day Thursday.
And at United Therapeutics Corp (NASDAQ:UTHR), there was insider buying on Wednesday, by CEO Martine A. Rothblatt who bought 13,649 shares for a cost of $43.60 each, for a total investment of $595,044. Before this latest buy, Rothblatt purchased UTHR on 7 other occasions during the past year, for a total investment of $3.75M at an average of $42.15 per share. United Therapeutics Corp is trading up about 2% on the day Thursday. So far Rothblatt is in the green, up about 2.7% on their purchase based on today's trading high of $44.79.
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.