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 Solarcity Corporation (NASDAQ:SCTY), a filing with the SEC revealed that on Tuesday, Director Nancy E. Pfund purchased 300,000 shares of SCTY, for a cost of $8.00 each, for a total investment of $2.4M. So far Pfund is in the green, up about 34.1% on their buy based on today's trading high of $10.73. Solarcity Corporation is trading off about 0.5% on the day Friday.
And at USMD Holdings, Inc. (NASDAQ:USMD), there was insider buying on Tuesday, by Director Charles E. Cook who purchased 31,847 shares at a cost of $11.42 each, for a trade totaling $363,553. USMD Holdings, Inc. is trading up about 9.9% on the day Friday. Bargain hunters have the opportunity to buy USMD at a price even lower than Cook did, with shares changing hands as low as $9.89 at last check today -- that's 13.4% below Cook's purchase price.
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