Tuesday 10/3 Insider Buying Report: DSGN, SPG Tuesday, October 3, 2:20 PM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Friday, Design Therapeutics' Director, Rodney W. Lappe, made a $49,287 buy of DSGN, purchasing 21,000 shares at a cost of $2.35 a piece. Bargain hunters are able to snag DSGN at a price even lower than Lappe did, with shares changing hands as low as $2.26 in trading on Tuesday -- that's 3.7% below Lappe's purchase price. Design Therapeutics is trading up about 0.9% on the day Tuesday. Before this latest buy, Lappe made one other purchase in the past twelve months, buying $119,426 shares for a cost of $7.96 a piece.
And at Simon Property Group, there was insider buying on Friday, by Larry C. Glasscock who bought 427 shares for a cost of $110.04 each, for a trade totaling $46,987. Before this latest buy, Glasscock purchased SPG at 3 other times during the past twelve months, for a total investment of $123,532 at an average of $113.96 per share. Simon Property Group is trading off about 1.5% on the day Tuesday. Bargain hunters are able to pick up SPG even cheaper than Glasscock did, with the stock changing hands as low as $102.11 at last check today which is 7.2% below Glasscock's purchase price.
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