Friday 10/23 Insider Buying Report: VRX, PSG Friday, October 23, 10:31 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 Wednesday, Valeant Pharmaceuticals International (VRX)'s Director, Ronald Harold Farmer, made a $272,395 purchase of VRX, buying 1,500 shares at a cost of $181.60 a piece. Investors have the opportunity to pick up VRX at a price even lower than Farmer did, with the stock changing hands as low as $113.19 in trading on Friday -- that's 37.7% under Farmer's purchase price. Valeant Pharmaceuticals International is trading up about 3.8% on the day Friday. Before this latest buy, Farmer purchased VRX at 5 other times during the past year, for a total cost of $839,788 at an average of $209.95 per share.
And at Performance Sports Group (PSG), there was insider buying on Tuesday, by Lawrence Lucchino who bought 8,065 shares at a cost of $12.35 each, for a total investment of $99,603. Performance Sports Group is trading up about 2.3% on the day Friday. Bargain hunters can grab PSG at a price even lower than Lucchino did, with shares trading as low as $11.49 at last check today which is 7.0% under Lucchino's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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