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 Thursday, Berkeley Lights' Director, Gregory T. Lucier, made a $205,590 purchase of BLI, buying 5,000 shares at a cost of $41.12 each. So far Lucier is in the green, up about 11.6% on their purchase based on today's trading high of $45.90. Berkeley Lights is trading up about 0.1% on the day Tuesday. Before this latest buy, Lucier made one other buy in the past year, purchasing $499,994 shares at a cost of $22.00 a piece.
And at Mercantile Bank, there was insider buying on Thursday, by COO Robert T. Worthington who purchased 3,431 shares for a cost of $32.56 each, for a trade totaling $111,713. This buy marks the first one filed by Worthington in the past year. Mercantile Bank is trading up about 0.8% on the day Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.