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.
At Encompass Health, a filing with the SEC revealed that on Wednesday, CEO & President, Home Health April Kaye Bullock Anthony purchased 40,000 shares of EHC, for a cost of $64.24 each, for a total investment of $2.57M. Investors have the opportunity to grab EHC at a price even lower than Anthony did, with the stock changing hands as low as $54.50 in trading on Thursday which is 15.2% under Anthony's purchase price. Encompass Health Corp is trading off about 5.4% on the day Thursday.
And on Monday, Vice Chairman Francis S. Godbold purchased $820,224 worth of Raymond James Financial, purchasing 12,542 shares at a cost of $65.40 each. Raymond James Financial Inc is trading off about 9.1% on the day Thursday. Investors can grab RJF at a price even lower than Godbold did, with shares changing hands as low as $60.05 at last check today -- that's 8.2% under Godbold's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.