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.
At Aclaris Therapeutics (NASDAQ:ACRS), a filing with the SEC revealed that on Monday, Director Anand Mehra bought 372,093 shares of ACRS, for a cost of $10.75 each, for a total investment of $4M. Mehra was up about 18.0% on the purchase at the high point of today's trading session, with ACRS trading as high as $12.69 at last check today. Aclaris Therapeutics is trading up about 0.4% on the day Wednesday.
And on Friday, Victoire G. Rankin bought $219,017 worth of Hyster-Yale Materials Handling (NYSE:HY), buying 3,611 shares at a cost of $60.65 a piece. Before this latest buy, Rankin purchased HY on 25 other occasions during the past twelve months, for a total cost of $2.71M at an average of $62.47 per share. Hyster-Yale Materials Handling is trading up about 3% on the day Wednesday.
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