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 Thursday, Aegerion Pharmaceuticals (AEGR)'s Chief Executive Officer, Marc D. Beer, made a $336,539 buy of AEGR, purchasing 10,000 shares at a cost of $33.65 a piece. Aegerion Pharmaceuticals is trading off about 5.6% on the day Thursday. Before this latest buy, Beer bought AEGR on 4 other occasions during the past year, for a total investment of $1.98M at an average of $33.03 per share.
And on Wednesday, COO Christopher Maher purchased $161,600 worth of OceanFirst Financial Corp (NASDAQ:OCFC), purchasing 10,000 shares at a cost of $16.16 a piece. Before this latest buy, Maher bought OCFC on 3 other occasions during the past twelve months, for a total investment of $52,555 at an average of $17.52 per share. OceanFirst Financial Corp is trading trading flat on the day Thursday. Bargain hunters can grab OCFC even cheaper than Maher did, with the stock trading as low as $15.87 in trading on Thursday which is 1.8% under Maher's purchase price.
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