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 Monday, Vertex Pharmaceuticals's Director, Bruce I. Sachs, made a $2.97M buy of VRTX, purchasing 15,000 shares at a cost of $197.91 a piece. So far Sachs is in the green, up about 2.1% on their purchase based on today's trading high of $202.16. Vertex Pharmaceuticals, is trading up about 0.9% on the day Thursday. Before this latest buy, Sachs made one other buy in the past twelve months, purchasing $3.26M shares for a cost of $217.36 each.
And at Traeger, there was insider buying on Monday, by Director Elizabeth Cahill Lempres who purchased 31,250 shares for a cost of $18.00 each, for a total investment of $562,500. Traeger Inc is trading up about 4.7% on the day Thursday. So far Lempres is in the green, up about 70.8% on their purchase based on today's trading high of $30.75.
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