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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Titan Pharmaceuticals, a filing with the SEC revealed that on Monday, CEO Sunil Bhonsle purchased 10,000 shares of TTNP, at a cost of $4.96 each, for a total investment of $49,550. So far Bhonsle is in the green, up about 5.5% on their purchase based on today's trading high of $5.23. Titan Pharmaceuticals is trading up about 2% on the day Thursday. Before this latest buy, Bhonsle made one other buy in the past year, purchasing $41,817 shares at a cost of $3.55 a piece.
And on Tuesday, Director Margaret Mary Spellings bought $14,760 worth of ClubCorp Holdings, buying 1,000 shares at a cost of $14.76 a piece. Before this latest buy, Spellings made one other purchase in the past twelve months, buying $19,429 shares at a cost of $14.95 each. ClubCorp Holdings is trading up about 1.5% on the day Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.