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.
At M & T Bank, a filing with the SEC revealed that on Wednesday, CFO Daryl N. Bible bought 5,000 shares of MTB, at a cost of $111.04 each, for a total investment of $555,218. M & T Bank is trading up about 2% on the day Monday. Before this latest buy, Bible made one other buy in the past twelve months, purchasing $1.21M shares at a cost of $120.61 a piece.
And on Thursday, CEO Sandeep Chidambar Kulkarni bought $110,912 worth of Tourmaline Bio, buying 9,650 shares at a cost of $11.49 a piece. This purchase marks the first one filed by Kulkarni in the past year. Tourmaline Bio Inc is trading up about 4.3% on the day Monday. Kulkarni was up about 33.0% on the buy at the high point of today's trading session, with TRML trading as high as $15.29 in trading on Monday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
