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 Tuesday, Helmerich & Payne, Inc. (NYSE:HP)'s Director, Donald F. Robillard Jr., made a $125,280 buy of HP, purchasing 2,000 shares at a cost of $62.64 each. Bargain hunters are able to bag HP even cheaper than Robillard Jr. did, with shares trading as low as $60.00 in trading on Wednesday which is 4.2% below Robillard Jr.'s purchase price. Helmerich & Payne, Inc. is trading off about 1.3% on the day Wednesday. This purchase marks the first one filed by Robillard Jr. in the past year.
And on Friday, Director Richard A. Lerner bought $99,953 worth of Opko Health Inc (NASDAQ:OPK), buying 13,100 shares at a cost of $7.63 each. Before this latest buy, Lerner bought OPK on 2 other occasions during the past twelve months, for a total cost of $249,868 at an average of $4.59 per share. Opko Health Inc is trading up about 0.8% on the day Wednesday.
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