Monday 6/5 Insider Buying Report: AVT, PTLA Monday, June 5, 10:41 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.
On Friday, Avnet (AVT)'s Director, James A. Lawrence, made a $15.11M buy of AVT, purchasing 408,451 shares at a cost of $36.99 each. So far Lawrence is in the green, up about 2.3% on their buy based on today's trading high of $37.84. Avnet is trading up about 2.2% on the day Monday. This purchase marks the first one filed by Lawrence in the past twelve months.
And on Thursday, Director Jeffrey W. Bird purchased $3.80M worth of Portola Pharmaceuticals (PTLA), purchasing 119,442 shares at a cost of $31.85 a piece. This purchase marks the first one filed by Bird in the past year. Portola Pharmaceuticals is trading down about 1.2% on the day Monday. Bird was up about 17.7% on the purchase at the high point of today's trading session, with PTLA trading as high as $37.50 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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