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.
On Wednesday, Philip Morris International's Deputy Gen. Counsel, Jerry Whitson, made a $248,282 purchase of PM, buying 3,000 shares at a cost of $82.76 each. Bargain hunters have the opportunity to bag PM even cheaper than Whitson did, with the stock trading as low as $80.47 in trading on Thursday which is 2.8% below Whitson's purchase price. Philip Morris International is trading off about 1.5% on the day Thursday.
And also on Wednesday, Timothy J. Haas bought $175,888 worth of New Age Beverages, buying 100,000 shares at a cost of $1.76 a piece. Before this latest buy, Haas made one other buy in the past year, purchasing $296,938 shares for a cost of $3.49 each. New Age Beverages is trading up about 7.2% on the day Thursday. Haas was up about 6.3% on the purchase at the high point of today's trading session, with NBEV trading as high as $1.87 in trading on Thursday.
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