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 NuStar Energy L.P. (NYSE:NS), a filing with the SEC revealed that on Wednesday, Director William E. Greehey bought 35,700 shares of NS, at a cost of $51.69 each, for a total investment of $1.85M. So far Greehey is in the green, up about 4.5% on their purchase based on today's trading high of $54.00. NuStar Energy L.P. is trading up about 3.1% on the day Friday. Before this latest buy, Greehey bought NS at 2 other times during the past year, for a total investment of $7.98M at an average of $49.86 per share.
And on Thursday, CEO William Pollett purchased $248,953 worth of Blue Capital Reinsurance Holdings (NYSE:BCRH), purchasing 14,500 shares at a cost of $17.17 a piece. This purchase marks the first one filed by Pollett in the past year. Blue Capital Reinsurance Holdings is trading up about 0.3% on the day Friday. So far Pollett is in the green, up about 1.9% on their purchase based on today's trading high of $17.49.
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