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, OPKO Health’s CEO & Chairman, Phillip Frost, made a $211,195 buy of OPK, purchasing 163,997 shares at a cost of $1.29 a piece. Frost was up about 5.6% on the buy at the high point of today’s trading session, with OPK trading as high as $1.36 in trading on Monday. OPKO Health is trading up about 3% on the day Monday. Before this latest buy, Frost purchased OPK on 17 other occasions during the past twelve months, for a total investment of $11.46M at an average of $1.05 per share.
And at Ouster, there was insider buying on Wednesday, by CEO Charles Angus Pacala who bought 16,000 shares for a cost of $12.33 each, for a trade totaling $197,283. This buy marks the first one filed by Pacala in the past year. Ouster is trading up about 0.5% on the day Monday. So far Pacala is in the green, up about 8.2% on their buy based on today’s trading high of $13.34.
VIDEO: Monday 5/20 Insider Buying Report: OPK, OUST
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