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 Thursday, Applied Therapeutics (NASDAQ:APLT)'s Director, Joel S. Marcus, made a $1.5M buy of APLT, purchasing 150,000 shares at a cost of $10.00 a piece. Applied Therapeutics is trading up about 0.2% on the day Tuesday. This buy marks the first one filed by Marcus in the past year.
And at Front Yard Residential Corp (NYSE:RESI), there was insider buying on Friday, by Director Rochelle R. Dobbs who bought 25,000 shares for a cost of $10.87 each, for a trade totaling $271,700. Front Yard Residential Corp is trading up about 6.9% on the day Tuesday. So far Dobbs is in the green, up about 8.8% on their purchase based on today's trading high of $11.82.
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