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 Monday, Energy Transfer LP (NYSE:ET)'s CEO, Kelcy L. Warren, made a $14.93M purchase of ET, buying 1,000,000 shares at a cost of $14.93 a piece. Bargain hunters can grab ET even cheaper than Warren did, with the stock trading as low as $14.07 at last check today — that's 5.8% under Warren's purchase price. Energy Transfer LP is trading off about 2.9% on the day Tuesday. This buy marks the first one filed by Warren in the past year.
And on Thursday, Director Michael Jay Zamkow bought $1.05M worth of SS&C Technologies Holdings (NASDAQ:SSNC), buying 22,100 shares at a cost of $47.53 a piece. SS&C Technologies Holdings is trading off about 3.2% on the day Tuesday. Investors can bag SSNC at a price even lower than Zamkow did, with the stock trading as low as $42.73 in trading on Tuesday — that's 10.1% below Zamkow's purchase price.
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