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.
At NextEra Energy Partners (NYSE:NEP), a filing with the SEC revealed that on Friday, Treasurer & Asst. Sec of GP Paul I. Cutler purchased 12,000 shares of NEP, for a cost of $26.00 each, for a total investment of $312,000. Bargain hunters are able to buy NEP even cheaper than Cutler did, with shares trading as low as $25.75 at last check today -- that's 1.0% under Cutler's purchase price. NextEra Energy Partners is trading off about 0.2% on the day Tuesday. This purchase marks the first one filed by Cutler in the past year.
And at Pacira Pharmaceuticals (NASDAQ:PCRX), there was insider buying on Friday, by SVP, Chief Financial Officer James S. Scibetta who bought 5,000 shares at a cost of $61.37 each, for a trade totaling $306,850. This buy marks the first one filed by Scibetta in the past twelve months. Pacira Pharmaceuticals is trading up about 0.6% on the day Tuesday. Scibetta was up about 5.1% on the buy at the high point of today's trading session, with PCRX trading as high as $64.50 at last check today.
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