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, NextEra Energy's Director, Kirk S. Hachigian, made a $1.12M purchase of NEE, buying 20,000 shares at a cost of $55.84 a piece. NextEra Energy is trading off about 1.7% on the day Thursday. Before this latest buy, Hachigian purchased NEE at 2 other times during the past year, for a total cost of $1.38M at an average of $68.97 per share.
And also on Wednesday, Chief Executive Officer Douglas A. Cifu bought $810,410 worth of Virtu Financial, buying 50,000 shares at a cost of $16.21 each. Before this latest buy, Cifu bought VIRT at 2 other times during the past twelve months, for a total investment of $1.7M at an average of $16.96 per share. Virtu Financial is trading up about 1.1% on the day Thursday. Cifu was up about 3.7% on the purchase at the high point of today's trading session, with VIRT trading as high as $16.81 at last check today.
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