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 Thursday, NuStar Energy ( NS )'s Director, William E. Greehey, made a $1.08M buy of NS, purchasing 20,000 shares at a cost of $54.03 a piece. NuStar Energy is trading up about 0.1% on the day Tuesday. Before this latest buy, Greehey purchased NS on 5 other occasions during the past year, for a total investment of $5.42M at an average of $48.39 per share.
And at Strayer Education ( STRA ), there was insider buying on Friday, by Director Todd A. Milano who bought 1,220 shares at a cost of $73.03 each, for a total investment of $89,097. Before this latest buy, Milano made one other purchase in the past year, buying $32,928 shares at a cost of $46.38 each. Strayer Education is trading off about 3.1% on the day Tuesday. Milano was up about 8.5% on the buy at the high point of today's trading session, with STRA trading as high as $79.23 in trading on Tuesday.