Thursday 8/16 Insider Buying Report: SRPT, RNET Thursday, August 16, 12:05 PM 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 Sarepta Therapeutics (SRPT), a filing with the SEC revealed that on Wednesday, CEO Douglas S. Ingram bought 16,000 shares of SRPT, at a cost of $125.26 each, for a total investment of $2.00M. Ingram was up about 6.4% on the purchase at the high point of today's trading session, with SRPT trading as high as $133.30 in trading on Thursday. Sarepta Therapeutics is trading up about 4% on the day Thursday. Before this latest buy, Ingram made one other purchase in the past year, buying $2M shares for a cost of $52.44 a piece.
And also on Wednesday, Oilfield Investments LP Digital purchased $791,064 worth of RigNet (RNET), purchasing 58,167 shares at a cost of $13.60 a piece. RigNet is trading up about 1.5% on the day Thursday. So far Digital is in the green, up about 4.0% on their purchase based on today's trading high of $14.15.
For MarketNewsVideo.com, I'm Sayoko Murase.
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