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 Wednesday, Auspex Pharmaceuticals (ASPX)'s Director, R. Scott Greer, made a $99,908 buy of ASPX, purchasing 5,190 shares at a cost of $19.25 each. So far Greer is in the green, up about 7.3% on their purchase based on today's trading high of $20.66. Auspex Pharmaceuticals is trading up about 0.4% on the day Thursday.
And at Fort Dearborn Income Securities (FDI), there was insider buying on Monday, by Director Edward M. Roob who purchased 1,000 shares at a cost of $14.81 each, for a trade totaling $14,810. This buy marks the first one filed by Roob in the past twelve months. Fort Dearborn Income Securities is trading up about 0.1% on the day Thursday. So far Roob is down about 0.4% on the purchase, with the stock changing hands as low as $14.75 at last check today.
