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.
At Herbalife, a filing with the SEC revealed that on Friday, Donal L. Mulligan bought 30,000 shares of HLF, at a cost of $9.65 each, for a total investment of $289,500. Herbalife is trading up about 1.4% on the day Tuesday. This purchase marks the first one filed by Mulligan in the past year.
And at Clough Global Opportunities Fund, there was insider buying on Thursday, by Charles Clough Jr. who bought 50,000 shares at a cost of $4.94 each, for a total investment of $247,000. Before this latest buy, Clough Jr. bought GLO at 6 other times during the past year, for a total cost of $470,939 at an average of $4.96 per share. Clough Global Opportunities Fund is trading up about 0.6% on the day Tuesday.
VIDEO: Tuesday 5/7 Insider Buying Report: HLF, GLO
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