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 Thursday, Intuitive Machines' Director, Michael Blitzer, made a $2.19M purchase of LUNR, buying 241,080 shares at a cost of $9.09 a piece. Intuitive Machines is trading up about 5.7% on the day Friday. This buy marks the first one filed by Blitzer in the past twelve months.
And at Bloomin' Brands, there was insider buying on Monday, by EVP, Chief Financial Officer Eric C. Christel who purchased 150,000 shares at a cost of $6.38 each, for a total investment of $957,000. This buy marks the first one filed by Christel in the past year. Bloomin' Brands is trading down about 1.5% on the day Friday. Christel was up about 7.2% on the buy at the high point of today's trading session, with BLMN trading as high as $6.84 in trading on Friday.
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