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 Western Midstream Partners, a filing with the SEC revealed that on Thursday, Director James R. Crane purchased 160,931 shares of WES, at a cost of $21.55 each, for a total investment of $3.47M. Investors are able to grab WES even cheaper than Crane did, with shares trading as low as $17.91 in trading on Monday — that's 16.9% below Crane's purchase price. Western Midstream Partners is trading off about 0.2% on the day Monday. This purchase marks the first one filed by Crane in the past twelve months.
And on Wednesday, Director Daniel J. Becker bought $1.65M worth of Principia Biopharma, buying 55,000 shares at a cost of $29.94 a piece. Before this latest buy, Becker purchased PRNB on 2 other occasions during the past twelve months, for a total investment of $17.58M at an average of $28.69 per share. Principia Biopharma is trading up about 6% on the day Monday. So far Becker is in the green, up about 10.9% on their purchase based on today's trading high of $33.20.
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