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.
On Monday, Boyd Gaming's Director, John Robert Bailey, made a $253,340 purchase of BYD, buying 10,000 shares at a cost of $25.33 each. Boyd Gaming is trading up about 0.3% on the day Wednesday.
And on Tuesday, Director James Edward Bass bought $249,984 worth of Reata Pharmaceuticals, buying 8,064 shares at a cost of $31.00 a piece. Before this latest buy, Bass made one other buy in the past twelve months, purchasing $108,800 shares at a cost of $21.76 a piece. Reata Pharmaceuticals is trading down about 0.7% on the day Wednesday. Bargain hunters are able to grab RETA at a price even lower than Bass did, with the stock changing hands as low as $29.07 at last check today which is 6.2% under Bass's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.