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 vTv Therapeutics, a filing with the SEC revealed that on Tuesday, Ronald O. Perelman bought 50,000 shares of VTVT, for a cost of $4.03 each, for a total investment of $201,720. Perelman was up about 51.7% on the buy at the high point of today's trading session, with VTVT trading as high as $6.12 at last check today. vTv Therapeutics is trading up about 34.2% on the day Thursday. Before this latest buy, Perelman bought VTVT on 4 other occasions during the past year, for a total cost of $727,831 at an average of $4.41 per share.
And at Western Asset Mortgage Capital, there was insider buying on Wednesday, by CEO Jennifer Murphy who purchased 10,000 shares for a cost of $10.22 each, for a total investment of $102,200. Before this latest buy, Murphy purchased WMC on 2 other occasions during the past year, for a total cost of $99,444 at an average of $9.94 per share. Western Asset Mortgage Capital is trading up about 0.2% on the day Thursday. So far Murphy is in the green, up about 1.5% on their buy based on today's trading high of $10.37.
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