Wednesday 3/4 Insider Buying Report: AKRX, DPM
Wednesday, March 4, 10:41 AM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Tuesday, Akorn (AKRX)'s Chief Executive Officer, Rajat Rai, made a $238,500 buy of AKRX, purchasing 5,000 shares at a cost of $47.70 each. So far Rai is in the green, up about 5.9% on their buy based on today's trading high of $50.50. Akorn is trading up about 2.1% on the day Wednesday. This buy marks the first one filed by Rai in the past year.
And at DCP Midstream Partners LP (DPM), there was insider buying on Friday, by Director Thomas C. Morris who bought 5,000 shares at a cost of $39.74 each, for a trade totaling $198,699. DCP Midstream Partners LP is trading off about 1.3% on the day Wednesday. Bargain hunters are able to bag DPM even cheaper than Morris did, with the stock changing hands as low as $38.75 at last check today which is 2.5% below Morris's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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