Friday 9/28 Insider Buying Report: HZNP, ROVI Friday, September 28, 12:22 PM ET
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.
At Horizon Pharma (NASDAQ:HZNP), a filing with the SEC revealed that on Tuesday, Director Jeffrey W. Bird bought 575,356 shares of HZNP, at a cost of $3.49 each, for a total investment of just over $2 million. Horizon Pharma is trading up about 2.6% on the day Friday.
And also on Tuesday, CEO Tom Carson purchased $225,000 worth of Rovi (NASDAQ:ROVI), purchasing 15,000 shares at a cost of $15.00 a piece. This purchase marks the first one filed by Carson in the past twelve months. Rovi is trading up about 0.6% on the day Friday. Bargain hunters can bag ROVI at a price even lower than Carson did, with shares trading as low as $14.25 at last check today -- that's 5.0% under Carson's purchase price.
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