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 Tuesday, Citius Pharmaceuticals (NASDAQ:CTXR)'s Executive Chairman, Leonard L. Mazur, made a $1.74M purchase of CTXR, buying 421,400 shares at a cost of $4.12 each. Investors have the opportunity to pick up CTXR at a price even lower than Mazur did, with the stock changing hands as low as $2.89 at last check today -- that's 29.9% under Mazur's purchase price. Citius Pharmaceuticals is trading trading flat on the day Friday.
And at Etsy (NASDAQ:ETSY), there was insider buying on Tuesday, by CEO Josh Silverman who bought 64,000 shares for a cost of $15.67 each, for a total investment of $1.00M. This purchase marks the first one filed by Silverman in the past twelve months. Etsy is trading up about 3.7% on the day Friday. So far Silverman is in the green, up about 6.5% on their buy based on today's trading high of $16.69.
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