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 two noteworthy recent insider buys.
On Thursday, Alnylam Pharmaceuticals (NASDAQ:ALNY)'s Director, David Pyott, made a $1.03M buy of ALNY, purchasing 27,900 shares at a cost of $37.00 a piece. Investors have the opportunity to buy ALNY even cheaper than Pyott did, with the stock changing hands as low as $35.21 at last check today which is 4.8% under Pyott's purchase price. Alnylam Pharmaceuticals is trading up about 1.9% on the day Monday. This buy marks the first one filed by Pyott in the past twelve months.
And at Ryman Hospitality Properties (NYSE:RHP), there was insider buying on Friday, by CEO Colin V. Reed who bought 8,040 shares for a cost of $49.75 each, for a total investment of $399,966. Before this latest buy, Reed purchased RHP on 3 other occasions during the past year, for a total investment of $1.14M at an average of $52.03 per share. Ryman Hospitality Properties is trading off about 0.4% on the day Monday.
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