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, PIMCO Dynamic Income Fund (NYSE:PDI)'s , William H. Gross, made a $1.36M buy of PDI, purchasing 40,436 shares at a cost of $33.53 a piece. Gross was up about 1.1% on the buy at the high point of today's trading session, with PDI trading as high as $33.89 at last check today. PIMCO Dynamic Income Fund is trading up about 0.1% on the day Monday. Before this latest buy, Gross purchased PDI on 27 other occasions during the past year, for a total investment of $35.72M at an average of $31.75 per share.
And at Heron Therapeutics (NASDAQ:HRTX), there was insider buying on Wednesday, by Chief Executive Officer Barry D. Quart who purchased 10,000 shares for a cost of $11.75 each, for a total investment of $117,500. This buy marks the first one filed by Quart in the past twelve months. Heron Therapeutics is trading up about 4.9% on the day Monday. Quart was up about 7.5% on the purchase at the high point of today's trading session, with HRTX trading as high as $12.63 in trading on Monday.
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