Thursday 10/16 Insider Buying Report: RGP, STRO
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.
On Wednesday, Resources Connection's CEO, Kate W. Duchene, made a $100,451 purchase of RGP, buying 23,015 shares at a cost of $4.36 each. So far Duchene is in the green, up about 14.6% on their purchase based on today's trading high of $5.00. Resources Connection is trading up about 8.6% on the day Thursday. Before this latest buy, Duchene made one other buy in the past year, purchasing $102,800 shares at a cost of $5.14 a piece.
And at Sutro Biopharma, there was insider buying on Wednesday, by Connie Matsui who purchased 50,000 shares at a cost of $0.80 each, for a total investment of $39,950. Sutro Biopharma is trading up about 8.4% on the day Thursday. So far Matsui is in the green, up about 7.6% on their buy based on today's trading high of $0.86.
VIDEO: Thursday 10/16 Insider Buying Report: RGP, STRO