Monday 8/12 Insider Buying Report: AMAG, NFLX Monday, August 12, 10:34 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.
At AMAG Pharmaceuticals (AMAG), a filing with the SEC revealed that on Friday, Capital Management LP Camber bought 385,000 shares of AMAG, for a cost of $7.87 each, for a total investment of $3.03M. Camber was up about 37.7% on the buy at the high point of today's trading session, with AMAG trading as high as $10.84 at last check today. AMAG Pharmaceuticals is trading up about 2.1% on the day Monday. This purchase marks the first one filed by Camber in the past twelve months.
And at Netflix (NFLX), there was insider buying on Thursday, by Director Bradford L. Smith who purchased 6,499 shares at a cost of $308.49 each, for a trade totaling $2.00M. This purchase marks the first one filed by Smith in the past twelve months. Netflix is trading off about 0.4% on the day Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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