Thursday 2/4 Insider Buying Report: PGR, INSM Thursday, February 4, 10:46 AM ET
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 Progressive (PGR), a filing with the SEC revealed that on Monday, CEO John F. Auer purchased 50,000 shares of PGR, at a cost of $30.28 each, for a total investment of $1.51M. So far Auer is in the green, up about 1.1% on their purchase based on today's trading high of $30.62. Progressive is trading up about 0.6% on the day Thursday. This buy marks the first one filed by Auer in the past year.
And at Insmed (INSM), there was insider buying on Monday, by CEO William Lewis who purchased 50,000 shares at a cost of $13.34 each, for a total investment of $667,000. Insmed is trading up about 3.3% on the day Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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