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 O'Reilly Automotive (NASDAQ:ORLY), a filing with the SEC revealed that on Wednesday, Director John Raymond Murphy bought 1,000 shares of ORLY, at a cost of $148.49 each, for a total investment of $148,490. O'Reilly Automotive is trading up about 1.1% on the day Friday. This buy marks the first one filed by Murphy in the past twelve months.
And at Hercules Offshore (NASDAQ:HERO), there was insider buying on Monday, by Director Steven A. Webster who bought 25,000 shares at a cost of $4.35 each, for a total investment of $108,678. Before this latest buy, Webster purchased HERO at 3 other times during the past twelve months, for a total cost of $1.12M at an average of $5.58 per share. Hercules Offshore is trading up about 3% on the day Friday. So far Webster is in the green, up about 3.7% on their purchase based on today's trading high of $4.51.
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