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 Friday, Howard Hughes's President, Grant Herlitz, made a $499,912 buy of HHC, purchasing 4,570 shares at a cost of $109.39 a piece. Howard Hughes Corp is trading trading flat on the day Wednesday.
And on Tuesday, CEO Scott William Drake purchased $388,200 worth of ViewRay, purchasing 60,000 shares at a cost of $6.47 a piece. This buy marks the first one filed by Drake in the past year. ViewRay is trading up about 0.9% on the day Wednesday.
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