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 (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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