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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, DaVita's Director, John M. Nehra, made a $461,188 purchase of DVA, buying 5,500 shares at a cost of $83.85 each. Bargain hunters are able to bag DVA at a price even lower than Nehra did, with shares changing hands as low as $82.14 at last check today -- that's 2.0% below Nehra's purchase price. DaVita is trading up about 0.9% on the day Friday.
And on Tuesday, EVP- Electricty Segment Zvi Krieger purchased $167,310 worth of Ormat Technologies, purchasing 3,000 shares at a cost of $55.77 each. This purchase marks the first one filed by Krieger in the past year. Ormat Technologies is trading trading flat on the day Friday. So far Krieger is in the green, up about 3.8% on their buy based on today's trading high of $57.87.
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