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 IHS Markit (INFO), a filing with the SEC revealed that on Thursday, Director Robert P. Kelly purchased 10,000 shares of INFO, for a cost of $38.62 each, for a total investment of $386,200. IHS Markit is trading down about 0.2% on the day Monday.
And at ViewRay (VRAY), there was insider buying on Wednesday, by Chief Financial Officer Ajay Bansal who bought 62,597 shares at a cost of $3.17 each, for a trade totaling $198,432. This buy marks the first one filed by Bansal in the past year. ViewRay is trading up about 2.1% on the day Monday. Bansal was up about 41.3% on the purchase at the high point of today's trading session, with VRAY trading as high as $4.48 in trading on Monday.
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