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 one noteworthy recent insider buy.
On Tuesday, Spirit Airlines' Director, Christine P. Richards, made a $216,200 buy of SAVE, purchasing 5,000 shares at a cost of $43.24 each. Richards was up about 3.6% on the purchase at the high point of today's trading session, with SAVE trading as high as $44.80 at last check today. Spirit Airlines is trading up about 1.3% on the day Thursday.
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