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 Accelerate Diagnostics ( AXDX ), a filing with the SEC revealed that on Tuesday, Director Matthew Strobeck bought 88,235 shares of AXDX, for a cost of $17.00 each, for a total investment of $1.5M. So far Strobeck is in the green, up about 35.9% on their buy based on today's trading high of $23.11. Accelerate Diagnostics Inc is trading off about 0.5% on the day Friday. Before this latest buy, Strobeck made one other purchase in the past twelve months, buying $44,080 shares at a cost of $22.04 each.
And at Argo Group International Holdings ( AGII ), there was insider buying on Monday, by President, U.S. Operations Kevin James Rehnberg who bought 6,198 shares at a cost of $60.37 each, for a trade totaling $374,161. This buy marks the first one filed by Rehnberg in the past twelve months. Argo Group International Holdings Ltd is trading off about 0.8% on the day Friday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.