As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Tuesday, Charter Communications' CEO, Christopher L. Winfrey, made a $1.49M buy of CHTR, purchasing 5,050 shares at a cost of $295.29 each. Investors have the opportunity to pick up CHTR at a price even lower than Winfrey did, with shares trading as low as $283.56 at last check today -- that's 4.0% below Winfrey's purchase price. Charter Communications is trading up about 1.2% on the day Thursday.
And at OPKO Health, there was insider buying on Wednesday, by CEO & Chairman Phillip Frost, M.D et. al. who purchased 1,500,000 shares for a cost of $0.98 each, for a trade totaling $1.46M. Before this latest buy, Frost bought OPK on 12 other occasions during the past twelve months, for a total investment of $8.04M at an average of $1.14 per share. OPKO Health is trading trading flat on the day Thursday. So far Frost is in the green, up about 3.6% on their purchase based on today's trading high of $1.01.
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