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 Thursday, Halozyme Therapeutics' Director, Kenneth J. Kelley, made a $748,697 purchase of HALO, buying 52,629 shares at a cost of $14.23 a piece. Kelley was up about 25.5% on the buy at the high point of today's trading session, with HALO trading as high as $17.86 in trading on Tuesday. Halozyme Therapeutics is trading off about 4.7% on the day Tuesday.
And at AFLAC, there was insider buying on Monday, by COO Frederick John Crawford who purchased 25,000 shares at a cost of $26.29 each, for a trade totaling $657,340. AFLAC Inc is trading up about 10.8% on the day Tuesday. Crawford was up about 10.0% on the buy at the high point of today's trading session, with AFL trading as high as $28.93 in trading on Tuesday.
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