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.
At First Internet Bancorp (NASDAQ:INBK), a filing with the SEC revealed that on Wednesday, Director Jerry L. Williams bought 2,100 shares of INBK, for a cost of $30.05 each, for a total investment of $63,105. So far Williams is in the green, up about 6.0% on their purchase based on today's trading high of $31.85. First Internet Bancorp is trading up about 1.5% on the day Monday.
And on Thursday, Director Scott Minick bought $59,258 worth of Chiasma (NASDAQ:CHMA), buying 25,000 shares at a cost of $2.37 each. Chiasma is trading up about 2.1% on the day Monday. Minick was up about 3.4% on the purchase at the high point of today's trading session, with CHMA trading as high as $2.45 in trading on Monday.
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