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 Tuesday, Dick's Sporting Goods' Director, William J. Colombo, made a $404,950 buy of DKS, purchasing 5,000 shares at a cost of $80.99 each. Colombo was up about 2.6% on the purchase at the high point of today's trading session, with DKS trading as high as $83.11 in trading on Friday. Dick's Sporting Goods, is trading down about 1.5% on the day Friday.
And on Thursday, Director Grant Verstandig purchased $297,561 worth of NexImmune, purchasing 133,124 shares at a cost of $2.24 each. NexImmune is trading up about 2.7% on the day Friday. Verstandig was up about 7.4% on the purchase at the high point of today's trading session, with NEXI trading as high as $2.40 in trading on Friday.
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