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 Friday, BioDelivery Sciences International's Director, Kevin Kotler, made a $894,566 purchase of BDSI, buying 257,800 shares at a cost of $3.47 each. BioDelivery Sciences International Inc is trading up about 2.8% on the day Tuesday. Before this latest buy, Kotler made one other purchase in the past twelve months, buying $960,500 shares for a cost of $3.20 each.
And also on Friday, President, Interactive Robeson Reeves purchased $258,750 worth of Bally's, purchasing 5,750 shares at a cost of $45.00 each. This buy marks the first one filed by Reeves in the past year. Bally's is trading up about 5.9% on the day Tuesday.
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