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, Energy Transfer Partners LP (NYSE:ETP)'s Chief Executive Officer, Kelcy L. Warren, made a $18.65M purchase of ETP, buying 1,000,000 shares at a cost of $18.65 a piece. Energy Transfer Partners LP is trading up about 1.6% on the day Thursday. Before this latest buy, Warren made one other buy in the past twelve months, purchasing $20.33M shares at a cost of $20.33 each.
And on Wednesday, Director Andrew N. Schiff bought $2.5M worth of Aclaris Therapeutics (NASDAQ:ACRS), buying 108,601 shares at a cost of $23.02 a piece. Aclaris Therapeutics is trading down about 0.7% on the day Thursday. Schiff was up about 18.1% on the purchase at the high point of today's trading session, with ACRS trading as high as $27.19 in trading on Thursday.
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