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.
On Thursday, Protalix BioTherapeutics' PRESIDENT AND CEO, Dror Bashan, made a $90,484 buy of PLX, purchasing 64,516 shares at a cost of $1.40 each. Bashan was up about 14.8% on the buy at the high point of today's trading session, with PLX trading as high as $1.61 at last check today. Protalix BioTherapeutics is trading up about 6.8% on the day Friday. This purchase marks the first one filed by Bashan in the past twelve months.
And at Carlyle Credit Income Fund, there was insider buying on Tuesday, by Director Sanjeev Handa who purchased 6,000 shares at a cost of $8.08 each, for a total investment of $48,480. This purchase marks the first one filed by Handa in the past year. Carlyle Credit Income Fund is trading off about 1.9% on the day Friday. Investors have the opportunity to snag CCIF even cheaper than Handa did, with the stock changing hands as low as $7.71 in trading on Friday -- that's 4.6% under Handa's purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
