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.
At AMAG Pharmaceuticals (NASDAQ:AMAG), a filing with the SEC revealed that on Friday, Capital Management LP Camber bought 385,000 shares of AMAG, for a cost of $7.87 each, for a total investment of $3.03M. Camber was up about 37.7% on the buy at the high point of today's trading session, with AMAG trading as high as $10.84 at last check today. AMAG Pharmaceuticals is trading up about 2.1% on the day Monday. This purchase marks the first one filed by Camber in the past twelve months.
And at Netflix (NASDAQ:NFLX), there was insider buying on Thursday, by Director Bradford L. Smith who purchased 6,499 shares at a cost of $308.49 each, for a trade totaling $2.00M. This purchase marks the first one filed by Smith in the past twelve months. Netflix is trading off about 0.4% on the day Monday.
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