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 Friday, Cullen/Frost Bankers (NYSE:CFR)'s Director, Carlos Alvarez, made a $5.06M purchase of CFR, buying 54,000 shares at a cost of $93.71 a piece. Alvarez was up about 5.2% on the purchase at the high point of today's trading session, with CFR trading as high as $98.63 at last check today. Cullen/Frost Bankers is trading up about 1% on the day Wednesday.
And on Tuesday, CEO Douglas S. Ingram purchased $2.01M worth of Sarepta Therapeutics (NASDAQ:SRPT), purchasing 16,695 shares at a cost of $120.39 a piece. Before this latest buy, Ingram bought SRPT at 2 other times during the past twelve months, for a total investment of $4.00M at an average of $73.96 per share. Sarepta Therapeutics is trading up about 5.9% on the day Wednesday. So far Ingram is in the green, up about 10.4% on their buy based on today's trading high of $132.86.
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