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 Savara, a filing with the SEC revealed that on Wednesday, Director David A. Ramsay bought 100,000 shares of SVRA, for a cost of $1.38 each, for a total investment of $138,380. So far Ramsay is in the green, up about 8.4% on their purchase based on today's trading high of $1.50. Savara is trading up about 0.7% on the day Thursday. Before this latest buy, Ramsay purchased SVRA at 8 other times during the past twelve months, for a total cost of $705,212 at an average of $1.16 per share.
And on Tuesday, CFO Aaron E. Alt bought $80,090 worth of Sysco, buying 1,000 shares at a cost of $80.09 each. Sysco is trading up about 1.4% on the day Thursday. Bargain hunters have the opportunity to snag SYY at a price even lower than Alt did, with the stock changing hands as low as $79.06 at last check today which is 1.3% below Alt's purchase price.
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