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 Natural Resources Partners L.P. (NYSE:NRP), a filing with the SEC revealed that on Wednesday, Christopher Cline bought 756,914 shares of NRP, for a cost of $19.82 each, for a total investment of $15M. Cline was up about 13.0% on the buy at the high point of today's trading session, with NRP trading as high as $22.39 in trading on Friday. Natural Resources Partners L.P. is trading up about 1.8% on the day Friday. This purchase marks the first one filed by Cline in the past year.
And at Alnylam Pharmaceuticals Inc (NASDAQ:ALNY), there was insider buying on Tuesday, by Director Philip A. Sharp who bought 4,967 shares at a cost of $20.13 each, for a total investment of $99,986. Before this latest buy, Sharp made one other purchase in the past twelve months, buying $99,996 shares for a cost of $10.75 each. Alnylam Pharmaceuticals Inc is trading up about 2% on the day Friday. So far Sharp is in the green, up about 21.4% on their purchase based on today's trading high of $24.44.
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