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 Friday, HealthEquity (NASDAQ:HQY)'s Founder and Vice Chairman, Stephen Neeleman, made a $610,000 buy of HQY, purchasing 10,000 shares at a cost of $61.00 each. So far Neeleman is in the green, up about 16.4% on their purchase based on today's trading high of $70.99. HealthEquity is trading trading flat on the day Tuesday. This buy marks the first one filed by Neeleman in the past year.
And at FedEx Corp (NYSE:FDX), there was insider buying on Friday, by Director John C. Inglis who bought 600 shares at a cost of $167.69 each, for a trade totaling $100,614. FedEx Corp is trading up about 2.5% on the day Tuesday. So far Inglis is in the green, up about 3.0% on their purchase based on today's trading high of $172.66.
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