As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Ulta Salon Cosmetics & Fragrance, a filing with the SEC revealed that on Wednesday, Director Dennis K. Eck purchased 11,000 shares of ULTA, at a cost of $246.97 each, for a total investment of $2.72M. Bargain hunters are able to snag ULTA even cheaper than Eck did, with the stock trading as low as $241.05 at last check today -- that's 2.4% under Eck's purchase price. Ulta Salon Cosmetics & Fragrance is trading down about 0.4% on the day Friday. This purchase marks the first one filed by Eck in the past year.
And at OCI Partners, there was insider buying on Thursday, by Director Nassef Sawiris who bought 198,500 shares at a cost of $6.04 each, for a total investment of $1.2M. Before this latest buy, Sawiris purchased OCIP at 10 other times during the past twelve months, for a total cost of $867,503 at an average of $7.16 per share. OCI Partners is trading off about 1.5% on the day Friday.
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