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 Wolfspeed, a filing with the SEC revealed that on Monday, Director John B. Replogle purchased 7,463 shares of WOLF, at a cost of $67.65 each, for a total investment of $504,862. Wolfspeed is trading down about 5.1% on the day Tuesday. This purchase marks the first one filed by Replogle in the past year.
And on Friday, CFO Jeremy Adam Fletcher purchased $501,000 worth of O'Reilly Automotive, purchasing 835 shares at a cost of $600.00 a piece. This buy marks the first one filed by Fletcher in the past twelve months. O'Reilly Automotive is trading up about 3.9% on the day Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.