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.
At Kindred Biosciences (NASDAQ:KIN), a filing with the SEC revealed that on Tuesday, Director Oleg Nodelman bought 85,244 shares of KIN, at a cost of $10.50 each, for a total investment of $895,093. Nodelman was up about 5.7% on the purchase at the high point of today's trading session, with KIN trading as high as $11.10 in trading on Thursday. Kindred Biosciences is trading up about 1% on the day Thursday. Before this latest buy, Nodelman made one other buy in the past year, purchasing $2.8M shares at a cost of $7.00 each.
And also on Tuesday, Director John A. White bought $595,764 worth of J.B. Hunt Transport Services (NASDAQ:JBHT), buying 7,800 shares at a cost of $76.38 each. J.B. Hunt Transport Services is trading down about 0.1% on the day Thursday. Bargain hunters can snag JBHT even cheaper than White did, with shares changing hands as low as $74.64 at last check today -- that's 2.3% under White's purchase price.
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