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, Symantec Corp (NASDAQ:SYMC)'s Director, Peter A. Feld, made a $22.28M buy of SYMC, purchasing 985,809 shares at a cost of $22.60 each. So far Feld is in the green, up about 3.7% on their buy based on today's trading high of $23.45. Symantec Corp is trading up about 0.8% on the day Friday. Before this latest buy, Feld bought SYMC on 5 other occasions during the past year, for a total investment of $137.73M at an average of $21.72 per share.
And on Thursday, Ira Sochet bought $514,542 worth of Otelco (NASDAQ:OTEL), buying 44,993 shares at a cost of $11.44 a piece. Before this latest buy, Sochet bought OTEL on 22 other occasions during the past twelve months, for a total cost of $7.04M at an average of $15.96 per share. Otelco is trading up about 0.4% on the day Friday. So far Sochet is in the green, up about 2.9% on their purchase based on today's trading high of $11.77.
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