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 Wednesday, Enterprise Products Partners' Director, John R. Rutherford, made a $237,205 buy of EPD, purchasing 10,000 shares at a cost of $23.72 a piece. Enterprise Products Partners is trading off about 0.5% on the day Thursday. Before this latest buy, Rutherford bought EPD at 4 other times during the past twelve months, for a total cost of $809,324 at an average of $22.48 per share.
And at Accelerate Diagnostics, there was insider buying on Monday, by Director Hany Massarany who purchased 20,000 shares for a cost of $3.30 each, for a trade totaling $66,000. Before this latest buy, Massarany made one other buy in the past twelve months, purchasing $53,000 shares at a cost of $5.30 each. Accelerate Diagnostics is trading down about 6% on the day Thursday. Bargain hunters have the opportunity to grab AXDX at a price even lower than Massarany did, with the stock trading as low as $2.89 in trading on Thursday -- that's 12.4% under Massarany's purchase price.
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