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 Volcano Corporation (VOLC), a filing with the SEC revealed that on Monday, Director Ronald A. Matricaria purchased 20,000 shares of VOLC, at a cost of $21.50 each, for a total investment of $430,000. So far Matricaria is in the green, up about 7.3% on their buy based on today's trading high of $23.07. Volcano Corporation is trading up about 2.5% on the day Wednesday.
And at Whole Foods Market, Inc. (WFM), there was insider buying on Friday, by Director Stephanie Kugelman who purchased 2,939 shares at a cost of $85.16 each, for a trade totaling $250,297. This buy marks the first one filed by Kugelman in the past year. Whole Foods Market, Inc. is trading down about 0.4% on the day Wednesday.
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