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 Schlumberger (NYSE:SLB), a filing with the SEC revealed that on Friday, Director Michael E. Marks bought 8,000 shares of SLB, at a cost of $64.20 each, for a total investment of $513,592. Investors have the opportunity to pick up SLB at a price even lower than Marks did, with shares trading as low as $63.49 at last check today which is 1.1% below Marks's purchase price. Schlumberger is trading up about 0.3% on the day Wednesday.
And on Monday, Director Ian Fujiyama bought $498,865 worth of Booz Allen Hamilton Holding Corp. (NYSE:BAH), buying 15,000 shares at a cost of $33.26 each. Booz Allen Hamilton Holding Corp. is trading up about 1.4% on the day Wednesday. Fujiyama was up about 2.8% on the purchase at the high point of today's trading session, with BAH trading as high as $34.19 at last check today.
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