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 OPKO Health, a filing with the SEC revealed that on Wednesday, CEO & Chairman Phillip Frost, M.D et. al. bought 500,000 shares of OPK, at a cost of $1.56 each, for a total investment of $781,050. So far Frost is in the green, up about 6.3% on their buy based on today's trading high of $1.66. OPKO Health is trading up about 4.4% on the day Thursday. Before this latest buy, Frost bought OPK on 15 other occasions during the past twelve months, for a total investment of $9.38M at an average of $1.00 per share.
And at Enhabit, there was insider buying on Tuesday, by Director Stuart M. McGuigan who bought 15,000 shares at a cost of $8.81 each, for a total investment of $132,150. Enhabit is trading up about 1.3% on the day Thursday.
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