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 Monday, JPMorgan Chase's Director, Todd A. Combs, made a $1.49M buy of JPM, purchasing 13,000 shares at a cost of $114.61 each. Investors can grab JPM even cheaper than Combs did, with the stock trading as low as $112.20 in trading on Thursday -- that's 2.1% under Combs's purchase price. JPMorgan Chase is trading down about 0.1% on the day Thursday.
And at HCP, there was insider buying on Monday, by Director R. Kent Griffin Jr. who bought 21,100 shares at a cost of $23.80 each, for a total investment of $502,180. HCP is trading down about 0.1% on the day Thursday. Investors are able to bag HCP at a price even lower than Griffin Jr. did, with shares trading as low as $23.30 in trading on Thursday -- that's 2.1% below Griffin Jr.'s purchase price.
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