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 Wednesday, DISH Network's , James Defranco, made a $8.84M buy of DISH, purchasing 800,000 shares at a cost of $11.05 each. So far Defranco is in the green, up about 5.1% on their purchase based on today's trading high of $11.62. DISH Network is trading up about 3.1% on the day Thursday. Before this latest buy, Defranco purchased DISH at 8 other times during the past twelve months, for a total cost of $38.85M at an average of $18.86 per share.
And on Tuesday, Director Richard Barry bought $2.29M worth of Cassava Sciences, buying 88,841 shares at a cost of $25.81 a piece. Before this latest buy, Barry made one other buy in the past twelve months, purchasing $860,223 shares at a cost of $23.79 each. Cassava Sciences is trading up about 0.4% on the day Thursday.
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