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 Friday, Remitly Global's Director, Nigel W. Morris, made a $4.82M purchase of RELY, buying 250,000 shares at a cost of $19.27 a piece. So far Morris is in the green, up about 7.7% on their purchase based on today's trading high of $20.75. Remitly Global is trading up about 7.5% on the day Monday. This buy marks the first one filed by Morris in the past twelve months.
And also on Friday, Director Richard Barry bought $3.94M worth of Sarepta Therapeutics, buying 50,000 shares at a cost of $78.81 each. This buy marks the first one filed by Barry in the past twelve months. Sarepta Therapeutics is trading up about 2.5% on the day Monday. Barry was up about 5.5% on the purchase at the high point of today's trading session, with SRPT trading as high as $83.11 at last check today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
