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 Tuesday, Tidewater's Director, Robert Robotti, made a $10M buy of TDW, purchasing 560,224 shares at a cost of $17.85 each. So far Robotti is in the green, up about 12.5% on their buy based on today's trading high of $20.08. Tidewater is trading up about 3.8% on the day Thursday. Before this latest buy, Robotti purchased TDW at 3 other times during the past year, for a total cost of $4.10M at an average of $18.65 per share.
And on Wednesday, David R. Walt purchased $1.29M worth of Quanterix, purchasing 150,000 shares at a cost of $8.62 a piece. This buy marks the first one filed by Walt in the past twelve months. Quanterix is trading up about 21.6% on the day Thursday. So far Walt is in the green, up about 25.8% on their buy based on today's trading high of $10.85.
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