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 Wednesday, Limelight Networks (NASDAQ:LLNW)'s SVP, Sajid Malhotra, made a $244,620 buy of LLNW, purchasing 100,000 shares at a cost of $2.45 a piece. So far Malhotra is in the green, up about 15.3% on their buy based on today's trading high of $2.82. Limelight Networks is trading up about 3% on the day Friday. Before this latest buy, Malhotra made one other purchase in the past twelve months, buying $214,000 shares for a cost of $2.14 a piece.
And at Catalyst Pharmaceutical Partners (NASDAQ:CPRX), there was insider buying on Wednesday, by Chief Operating Officer Steve Miller who bought 100,000 shares at a cost of $2.17 each, for a total investment of $216,990. This purchase marks the first one filed by Miller in the past twelve months. Catalyst Pharmaceutical Partners is trading up about 2.7% on the day Friday. So far Miller is in the green, up about 5.8% on their purchase based on today's trading high of $2.29.
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