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 Friday, Endurance International Group Holdings's Director, James Neary, made a $2.79M buy of EIGI, purchasing 363,000 shares at a cost of $7.68 a piece. Neary was up about 5.4% on the purchase at the high point of today's trading session, with EIGI trading as high as $8.10 in trading on Tuesday. Endurance International Group Holdings is trading up about 1% on the day Tuesday. Before this latest buy, Neary purchased EIGI on 3 other occasions during the past year, for a total cost of $11.34M at an average of $7.33 per share.
And at Ball, there was insider buying on Thursday, by Director Cynthia A. Niekamp who purchased 3,000 shares at a cost of $80.37 each, for a total investment of $241,110. Ball is trading down about 0.1% on the day Tuesday.
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