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, Reata Pharmaceuticals (NASDAQ:RETA)'s , James W. Traweek Jr., made a $6.58M buy of RETA, purchasing 110,826 shares at a cost of $59.41 a piece. So far Traweek Jr. is in the green, up about 6.2% on their buy based on today's trading high of $63.11. Reata Pharmaceuticals is trading up about 1.8% on the day Thursday. Before this latest buy, Traweek Jr. purchased RETA at 3 other times during the past twelve months, for a total investment of $6.15M at an average of $25.18 per share.
And also on Wednesday, CEO Eric J. Foss purchased $3.00M worth of Aramark (NYSE:ARMK), purchasing 92,564 shares at a cost of $32.46 a piece. This purchase marks the first one filed by Foss in the past twelve months. Aramark is trading up about 2.2% on the day Thursday. Foss was up about 2.1% on the buy at the high point of today's trading session, with ARMK trading as high as $33.14 in trading on Thursday.
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