Thursday 3/28 Insider Buying Report: SMMT, EPSN Thursday, March 28, 1:41 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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Tuesday, Summit Therapeutics' Chief Financial Officer, Ankur Dhingra, made a $375,000 buy of SMMT, purchasing 100,000 shares at a cost of $3.75 each. So far Dhingra is in the green, up about 23.7% on their buy based on today's trading high of $4.64. Summit Therapeutics is trading up about 13.1% on the day Thursday. Before this latest buy, Dhingra made one other buy in the past twelve months, purchasing $44,254 shares at a cost of $2.17 each.
And on Wednesday, Chief Executive Officer Jason Stabell bought $191,446 worth of Epsilon Energy, buying 36,466 shares at a cost of $5.25 each. Before this latest buy, Stabell purchased EPSN at 5 other times during the past year, for a total investment of $1.6M at an average of $4.92 per share. Epsilon Energy is trading up about 2.3% on the day Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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