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.
At Singular Genomic Systems, a filing with the SEC revealed that on Wednesday, Kevin Tang bought 122,416 shares of OMIC, at a cost of $14.75 each, for a total investment of $1.81M. Tang was up about 30.5% on the purchase at the high point of today's trading session, with OMIC trading as high as $19.26 at last check today. Singular Genomic Systems is trading up about 10.4% on the day Thursday. This purchase marks the first one filed by Tang in the past year.
And at WillScot Holdings, there was insider buying on Wednesday, by Chief Executive Officer Bradley Lee Soultz who bought 5,000 shares at a cost of $38.97 each, for a trade totaling $194,855. Before this latest buy, Soultz bought WSC at 3 other times during the past year, for a total cost of $610,142 at an average of $40.68 per share. WillScot Holdings is trading down about 2.5% on the day Thursday.
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