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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Friday, Natural Resources Partners L.P. (NYSE:NRP)'s Director, Robert T. Blakely, made a $490,917 buy of NRP, purchasing 22,500 shares at a cost of $21.82 each. So far Blakely is in the green, up about 2.8% on their purchase based on today's trading high of $22.43. Natural Resources Partners L.P. is trading down about 0.2% on the day Tuesday.
And at Gilead Sciences, Inc. (NASDAQ:GILD), there was insider buying on Thursday, by Director Olsen Per Wold who bought 10,000 shares at a cost of $43.05 each, for a trade totaling $430,493. Gilead Sciences, Inc. is trading up about 2.4% on the day Tuesday. Wold was up about 4.6% on the buy at the high point of today's trading session, with GILD trading as high as $45.03 in trading on Tuesday.
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