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 Thursday, Liberty Latin America's Director, Brendan J. Paddick, made a $10.29M buy of LILA, purchasing 544,064 shares at a cost of $18.91 a piece. Investors are able to bag LILA at a price even lower than Paddick did, with the stock trading as low as $18.23 at last check today — that's 3.6% under Paddick's purchase price. Liberty Latin America is trading up about 1.9% on the day Monday. This purchase marks the first one filed by Paddick in the past year.
And on Friday, Director G. Walter Loewenbaum II bought $1.47M worth of Luminex, buying 81,657 shares at a cost of $18.00 each. Luminex is trading up about 6% on the day Monday. Loewenbaum II was up about 9.1% on the purchase at the high point of today's trading session, with LMNX trading as high as $19.64 in trading on Monday.
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