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 Monday, Sarepta Therapeutics' CEO, Douglas S. Ingram, made a $2.00M buy of SRPT, purchasing 16,252 shares at a cost of $123.07 a piece. Ingram was up about 6.2% on the buy at the high point of today's trading session, with SRPT trading as high as $130.72 in trading on Tuesday. Sarepta Therapeutics is trading up about 2.7% on the day Tuesday. Before this latest buy, Ingram purchased SRPT at 2 other times during the past year, for a total investment of $4.01M at an average of $122.77 per share.
And at MPLX, there was insider buying on Thursday, by Chairman, CEO Gary R. Heminger who purchased 42,600 shares at a cost of $27.18 each, for a total investment of $1.16M. MPLX is trading up about 0.3% on the day Tuesday.
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