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 Monday, Validus Holdings (NYSE:VR)'s Director of Corp. Development, John J. Hendrickson, made a $246,540 buy of VR, purchasing 7,000 shares at a cost of $35.22 a piece. So far Hendrickson is in the green, up about 2.0% on their purchase based on today's trading high of $35.94. Before this latest buy, Hendrickson bought VR on 2 other occasions during the past year, for a total cost of $742,490 at an average of $35.36 per share.
And at Boston Private Financial (NASDAQ:BPFH), there was insider buying on Tuesday, by CEO - BPFH Private Banking Mark D. Thompson who bought 20,000 shares at a cost of $10.60 each, for a total investment of $212,000. Boston Private Financial is trading off about 0.2% on the day Thursday.
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