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Friday 8/11 Insider Buying Report: CTXR, ETSY Friday, August 11, 10:42 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 Tuesday, Citius Pharmaceuticals (CTXR)'s Executive Chairman, Leonard L. Mazur, made a $1.74M purchase of CTXR, buying 421,400 shares at a cost of $4.12 each. Investors have the opportunity to pick up CTXR at a price even lower than Mazur did, with the stock changing hands as low as $2.89 at last check today -- that's 29.9% under Mazur's purchase price. Citius Pharmaceuticals is trading trading flat on the day Friday.
And at Etsy (ETSY), there was insider buying on Tuesday, by CEO Josh Silverman who bought 64,000 shares for a cost of $15.67 each, for a total investment of $1.00M. This purchase marks the first one filed by Silverman in the past twelve months. Etsy is trading up about 3.7% on the day Friday. So far Silverman is in the green, up about 6.5% on their buy based on today's trading high of $16.69.
For MarketNewsVideo.com, I'm Sayoko Murase. | |
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