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, Bausch Health Companies', John Paulson, made a $14.70M buy of BHC, purchasing 2,788,608 shares at a cost of $5.27 a piece. So far Paulson is in the green, up about 11.0% on their purchase based on today's trading high of $5.85. Bausch Health Companies is trading up about 4.3% on the day Friday. This purchase marks the first one filed by Paulson in the past year.
And at Meritage Homes, there was insider buying on Thursday, by Director Joseph Keough who bought 4,000 shares for a cost of $66.16 each, for a total investment of $264,640. Before this latest buy, Keough made one other buy in the past twelve months, purchasing $346,400 shares for a cost of $69.28 each. Meritage Homes is trading down about 0.7% on the day Friday. Investors can bag MTH even cheaper than Keough did, with the stock changing hands as low as $65.00 in trading on Friday which is 1.8% under Keough's purchase price.
VIDEO: Friday 6/13 Insider Buying Report: BHC, MTH
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