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.
At Wynn Resorts, a filing with the SEC revealed that on Tuesday, Director Philip G. Satre bought 9,800 shares of WYNN, for a cost of $103.01 each, for a total investment of $1.01M. Satre was up about 4.1% on the buy at the high point of today's trading session, with WYNN trading as high as $107.28 in trading on Friday. Wynn Resorts is trading down about 0.7% on the day Friday.
And on Thursday, Director Richard Aldrich purchased $591,262 worth of Concert Pharmaceuticals, purchasing 50,000 shares at a cost of $11.83 a piece. Concert Pharmaceuticals is trading up about 13% on the day Friday.
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