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 Sarepta Therapeutics (SRPT), a filing with the SEC revealed that on Friday, Director Michael Andrew Chambers purchased 46,170 shares of SRPT, at a cost of $108.28 each, for a total investment of $5M. Sarepta Therapeutics is trading up about 2.2% on the day Monday.
And at DISH Network Corp (DISH), there was insider buying on Wednesday, by James Defranco who purchased 160,373 shares for a cost of $18.53 each, for a trade totaling $2.97M. Before this latest buy, Defranco bought DISH at 3 other times during the past year, for a total cost of $25.03M at an average of $19.40 per share. DISH Network Corp is trading off about 2% on the day Monday. Investors are able to bag DISH at a price even lower than Defranco did, with shares changing hands as low as $17.94 at last check today -- that's 3.2% below Defranco's purchase price.
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