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 Vocus Inc (NASDAQ:VOCS), a filing with the SEC revealed that on Thursday, Chairman, CEO and President Richard E. Rudman bought 70,000 shares of VOCS, for a cost of $13.93 each, for a total investment of $975,100. Vocus Inc is trading off about 1.4% on the day Friday. Before this latest buy, Rudman purchased VOCS on 3 other occasions during the past year, for a total cost of $3.00M at an average of $15.41 per share.
And at Validus Holdings Ltd (NYSE:VR), there was insider buying on Thursday, by Director of Corp. Development John J. Hendrickson who purchased 14,000 shares for a cost of $35.65 each, for a total investment of $499,100. Validus Holdings Ltd is trading off about 0.1% on the day Friday.
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