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 Albemarle (NYSE:ALB), a filing with the SEC revealed that on Thursday, Senior VP Michael Wilson purchased 5,000 shares of ALB, at a cost of $64.84 each, for a total investment of $324,200. Investors can bag ALB at a price even lower than Wilson did, with the stock changing hands as low as $62.74 at last check today -- that's 3.2% below Wilson's purchase price. Albemarle Corp. is trading down about 2.1% on the day Monday.
And on Wednesday, Director Victor Simone Jr. bought $220,000 worth of Liquid Holdings Group (LIQD), buying 40,000 shares at a cost of $5.50 each. This purchase marks the first one filed by Simone in the past twelve months. Liquid Holdings Group is trading up about 1.1% on the day Monday.
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