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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At China Biologic Products (NASDAQ:CBPO), a filing with the SEC revealed that on Thursday, Chief Executive Officer David Gao bought 5,000 shares of CBPO, at a cost of $8.93 each, for a total investment of nearly $45,000. So far Gao is in the green, up about 8.4% on their buy based on today's trading high of $9.68. Before this latest buy, Gao bought CBPO on 2 other occasions during the past year, for a total investment of $66,500 at an average of $9.50 per share.
And also on Thursday, Director Haig Bagerdjian purchased $42,900 worth of Innodata (NASDAQ:INOD), purchasing 10,000 shares at a cost of $4.29 each. Before this latest buy, Bagerdjian purchased INOD at 3 other times during the past twelve months, for a total cost of just over $176,000 at an average of $5.05 per share. Innodata is trading down about 2.1% on the day Tuesday.
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