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 WesBanco, a filing with the SEC revealed that on Monday, Director Gary L. Libs bought 25,000 shares of WSBC, for a cost of $20.70 each, for a total investment of $517,525. Investors can buy WSBC at a price even lower than Libs did, with shares trading as low as $19.27 in trading on Thursday -- that's 6.9% under Libs's purchase price. WesBanco is trading up about 1.8% on the day Thursday.
And at Athersys, there was insider buying on Wednesday, by Director Kenneth H. Traub who bought 140,000 shares at a cost of $2.30 each, for a trade totaling $322,500. This buy marks the first one filed by Traub in the past twelve months. Athersys is trading up about 20.7% on the day Thursday. So far Traub is in the green, up about 18.9% on their purchase based on today's trading high of $2.74.
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