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, Black Stone Minerals' Director, William N. Mathis, made a $191,390 purchase of BSM, buying 11,400 shares at a cost of $16.79 each. Black Stone Minerals is trading up about 1% on the day Thursday.
And also on Tuesday, Chief Financial Officer and Sr. VP Geoffrey M. Parker purchased $148,600 worth of Tricida, purchasing 5,000 shares at a cost of $29.72 a piece. Before this latest buy, Parker made one other purchase in the past year, buying $1.14M shares for a cost of $19.00 each. Tricida is trading down about 1.8% on the day Thursday. Parker was up about 5.8% on the purchase at the high point of today's trading session, with TCDA trading as high as $31.45 at last check today.
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