Wednesday 9/9 Insider Buying Report: SRE, BDGE
Wednesday, September 9, 1:41 PM ET

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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.

At Sempra Energy, a filing with the SEC revealed that on Tuesday, Director Cynthia Lynn Walker purchased 1,000 shares of SRE, at a cost of $117.70 each, for a total investment of $117,700. Walker was up about 3.3% on the purchase at the high point of today's trading session, with SRE trading as high as $121.55 at last check today. Sempra Energy is trading up about 1.9% on the day Wednesday. Before this latest buy, Walker made one other purchase in the past year, buying $250,920 shares at a cost of $125.46 each.

And also on Tuesday, Daniel Rubin bought $103,356 worth of Bridge Bancorp, buying 5,000 shares at a cost of $20.67 a piece. Bridge Bancorp is trading up about 0.2% on the day Wednesday. Bargain hunters are able to bag BDGE at a price even lower than Rubin did, with shares changing hands as low as $20.00 at last check today -- that's 3.2% under Rubin's purchase price.

For MarketNewsVideo.com, I'm Sayoko Murase.