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.
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, Phillips 66 Partners's Director, Phillip David Bairrington, made a $325,474 purchase of PSXP, buying 15,000 shares at a cost of $21.70 a piece.
So far Bairrington is in the green, up about 9.6% on their purchase based on today's trading high of $23.78.
Phillips 66 Partners is trading up about 1.1% on the day Wednesday.
Before this latest buy, Bairrington purchased PSXP at 2 other times during the past year, for a total cost of $589,463 at an average of $35.42 per share.
And on Tuesday, CFO Mark Reynolds bought $300,920 worth of GeoVax Labs, buying 60,184 shares at a cost of $5.00 a piece.
This purchase marks the first one filed by Reynolds in the past year.
GeoVax Labs is trading up about 1.9% on the day Wednesday.
Bargain hunters have the opportunity to snag GOVX even cheaper than Reynolds did, with the stock trading as low as $2.90 in trading on Wednesday which is 42.0% under Reynolds's purchase price.