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, HP (NYSE:HPQ)'s Director, Rajiv Gupta, made a $960,296 purchase of HPQ, buying 80,000 shares at a cost of $12.00 a piece. Gupta was up about 3.2% on the purchase at the high point of today's trading session, with HPQ trading as high as $12.39 in trading on Monday. HP is trading up about 1.3% on the day Monday. This buy marks the first one filed by Gupta in the past year.
And also on Wednesday, Director Timothy Patrick Flynn purchased $584,587 worth of Wal-Mart Stores (NYSE:WMT), purchasing 10,000 shares at a cost of $58.46 each. Wal-Mart Stores is trading up about 1.1% on the day Monday. Flynn was up about 3.2% on the purchase at the high point of today's trading session, with WMT trading as high as $60.34 in trading on Monday.
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