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.
On Tuesday, Aegerion Pharmaceuticals (AEGR)'s Chief Executive Officer, Marc D. Beer, made a $315,900 purchase of AEGR, buying 10,000 shares at a cost of $31.59 each. Beer was up about 5.4% on the buy at the high point of today's trading session, with AEGR trading as high as $33.29 at last check today. Aegerion Pharmaceuticals is trading up about 0.6% on the day Wednesday. Before this latest buy, Beer purchased AEGR at 2 other times during the past year, for a total cost of $1.36M at an average of $34.12 per share.
And at 8x8 (NYSE:EGHT), there was insider buying on Tuesday, by Chief Executive Officer Vikram Verma who purchased 38,000 shares at a cost of $7.42 each, for a total investment of $281,918. Before this latest buy, Verma made one other purchase in the past twelve months, buying $237,325 shares at a cost of $9.49 each. 8x8 is trading up about 2.3% on the day Wednesday. Verma was up about 5.9% on the buy at the high point of today's trading session, with EGHT trading as high as $7.86 at last check today.
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