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 Friday, PRA Group (NASDAQ:PRAA)'s Director, Geir Olsen, made a $4.98M purchase of PRAA, buying 143,000 shares at a cost of $34.84 a piece. Bargain hunters are able to pick up PRAA even cheaper than Olsen did, with the stock trading as low as $33.60 in trading on Tuesday which is 3.5% below Olsen's purchase price. PRA Group is trading up about 0.9% on the day Tuesday. Before this latest buy, Olsen made one other buy in the past year, purchasing $675,750 shares at a cost of $27.03 a piece.
And at Pulse Biosciences (NASDAQ:PLSE), there was insider buying on Monday, by Director Maky Zanganeh who bought 18,240 shares at a cost of $23.34 each, for a trade totaling $425,669. Before this latest buy, Zanganeh made one other purchase in the past twelve months, buying $155,649 shares for a cost of $11.97 each. Pulse Biosciences is trading up about 10.4% on the day Tuesday.
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