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 Friday, Eiger BioPharmaceuticals ( EIGR )'s Director, Jeffrey S. Glenn, made a $142,950 purchase of EIGR, buying 15,000 shares at a cost of $9.53 each. So far Glenn is in the green, up about 3.6% on their buy based on today's trading high of $9.87. Eiger BioPharmaceuticals is trading up about 1.6% on the day Wednesday. Before this latest buy, Glenn made one other purchase in the past year, buying $196,884 shares for a cost of $12.74 each.
And also on Friday, Director Ralph T. Parks purchased $125,900 worth of Hibbett Sports ( HIBB ), purchasing 10,000 shares at a cost of $12.59 a piece. Hibbett Sports is trading trading flat on the day Wednesday. Parks was up about 1.5% on the purchase at the high point of today's trading session, with HIBB trading as high as $12.78 at last check today.