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.
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