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 Tuesday, Logicbio Therapeutics (NASDAQ:LOGC)'s Director, Tomer Kariv, made a $4.2M buy of LOGC, purchasing 420,000 shares at a cost of $10.00 each. Investors are able to buy LOGC even cheaper than Kariv did, with the stock changing hands as low as $7.47 at last check today which is 25.3% under Kariv's purchase price. Logicbio Therapeutics Inc is trading up about 1.5% on the day Friday. This purchase marks the first one filed by Kariv in the past year.
And at Citizens Financial Group (NYSE:CFG), there was insider buying on Tuesday, by Director Charles John Koch who bought 14,000 shares at a cost of $36.32 each, for a total investment of $508,480. Citizens Financial Group is trading off about 1.2% on the day Friday. Bargain hunters have the opportunity to bag CFG even cheaper than Koch did, with the stock changing hands as low as $35.29 at last check today — that's 2.8% under Koch's purchase price.
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