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 Thursday, Altisource Portfolio Solutions SA (NASDAQ:ASPS)'s Director, W. Michael Linn, made a $167,105 purchase of ASPS, buying 1,900 shares at a cost of $87.95 each. Altisource Portfolio Solutions SA is trading off about 3.3% on the day Tuesday. Before this latest buy, Linn bought ASPS on 3 other occasions during the past year, for a total cost of $267,726 at an average of $53.55 per share.
And also on Thursday, Director Edward J. McKinley purchased $150,405 worth of Clovis Oncology Inc (CLVS), purchasing 9,701 shares at a cost of $15.50 a piece. Before this latest buy, McKinley bought CLVS on 2 other occasions during the past year, for a total investment of $1.54M at an average of $14.67 per share. Clovis Oncology Inc is trading down about 0.1% on the day Tuesday. So far McKinley is in the green, up about 18.9% on their buy based on today's trading high of $18.44.
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