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 one noteworthy recent insider buy.
On Tuesday, Walgreen (WAG)'s Director, Barry Rosenstein, made a $77.33M purchase of WAG, buying 1,250,000 shares at a cost of $61.86 a piece. Investors have the opportunity to grab WAG at a price even lower than Rosenstein did, with shares changing hands as low as $59.84 in trading on Wednesday which is 3.3% below Rosenstein's purchase price. Walgreen is trading up about 0.1% on the day Wednesday.
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