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.
On Thursday, JPMorgan Chase's Director, Stephen B. Burke, made a $6.6M purchase of JPM, buying 75,000 shares at a cost of $87.99 each. So far Burke is in the green, up about 5.5% on their buy based on today's trading high of $92.80. JPMorgan Chase is trading up about 5.2% on the day Friday. This buy marks the first one filed by Burke in the past twelve months.
And on Tuesday, Director James L. L. Tullis purchased $1.5M worth of ElectroCore, purchasing 1,764,705 shares at a cost of $0.85 each. Before this latest buy, Tullis purchased ECOR on 2 other occasions during the past year, for a total investment of $85,212 at an average of $1.62 per share. ElectroCore is trading up about 19.4% on the day Friday. Tullis was up about 29.4% on the purchase at the high point of today's trading session, with ECOR trading as high as $1.10 at last check today.
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