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 Wednesday, Limelight Networks ( LLNW )'s SVP, Sajid Malhotra, made a $244,620 buy of LLNW, purchasing 100,000 shares at a cost of $2.45 a piece. So far Malhotra is in the green, up about 15.3% on their buy based on today's trading high of $2.82. Limelight Networks is trading up about 3% on the day Friday. Before this latest buy, Malhotra made one other purchase in the past twelve months, buying $214,000 shares for a cost of $2.14 a piece.
And at Catalyst Pharmaceutical Partners ( CPRX ), there was insider buying on Wednesday, by Chief Operating Officer Steve Miller who bought 100,000 shares at a cost of $2.17 each, for a total investment of $216,990. This purchase marks the first one filed by Miller in the past twelve months. Catalyst Pharmaceutical Partners is trading up about 2.7% on the day Friday. So far Miller is in the green, up about 5.8% on their purchase based on today's trading high of $2.29.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
