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 Friday, PNC Financial Services (NYSE:PNC)'s Director, Andrew T. Feldstein, made a $2.05M purchase of PNC, buying 25,000 shares at a cost of $81.86 a piece. PNC Financial Services is trading up about 0.1% on the day Wednesday. This buy marks the first one filed by Feldstein in the past twelve months.
And on Tuesday, Director Matthew Strobeck purchased $334,000 worth of Accelerate Diagnostics (NASDAQ:AXDX), purchasing 20,000 shares at a cost of $16.70 a piece. Accelerate Diagnostics is trading up about 7.6% on the day Wednesday.
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