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 Thursday, Halliburton Company (NYSE:HAL)'s Director, Murry Gerber, made a $235,805 buy of HAL, purchasing 5,800 shares at a cost of $40.66 a piece. Gerber was up about 3.0% on the purchase at the high point of today's trading session, with HAL trading as high as $41.88 in trading on Friday. Halliburton Company is trading up about 0.9% on the day Friday.
And on Tuesday, Ira Sochet purchased $216,645 worth of Otelco (NASDAQ:OTEL), purchasing 14,658 shares at a cost of $14.78 a piece. Before this latest buy, Sochet purchased OTEL on 8 other occasions during the past twelve months, for a total cost of $5.37M at an average of $12.76 per share. Otelco is trading up about 1.3% on the day Friday. So far Sochet is in the green, up about 2.2% on their purchase based on today's trading high of $15.10.
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