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 Monday, BioAmber (NYSE:BIOA)'s Director, Kurt W. Briner, made a $163,875 purchase of BIOA, buying 14,250 shares at a cost of $11.50 each. So far Briner is in the green, up about 5.7% on their purchase based on today's trading high of $12.15. BioAmber is trading trading flat on the day Tuesday. Before this latest buy, Briner purchased BIOA on 2 other occasions during the past year, for a total investment of $36,418 at an average of $11.45 per share.
And at Cascade Bancorp (NASDAQ:CACB), there was insider buying on Thursday, by EVP-Chief Credit Officer Daniel J. Lee who bought 25,000 shares for a cost of $5.34 each, for a total investment of $133,448. Before this latest buy, Lee bought CACB on 2 other occasions during the past twelve months, for a total investment of $177,387 at an average of $4.34 per share. Cascade Bancorp is trading off about 0.4% on the day Tuesday.
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