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.
At CASI Pharmaceuticals, a filing with the SEC revealed that on Wednesday, President Larry Zhang bought 20,153 shares of CASI, at a cost of $1.90 each, for a total investment of $38,291. Zhang was up about 18.4% on the buy at the high point of today's trading session, with CASI trading as high as $2.25 at last check today. CASI Pharmaceuticals is trading up about 4.6% on the day Monday. This buy marks the first one filed by Zhang in the past twelve months.
And on Thursday, Director Gary D. Sweeney purchased $35,058 worth of Wintrust Financial, purchasing 785 shares at a cost of $44.66 each. Before this latest buy, Sweeney bought WTFC on 2 other occasions during the past twelve months, for a total investment of $79,708 at an average of $63.46 per share. Wintrust Financial is trading off about 2.6% on the day Monday.
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