Monday 8/22 Insider Buying Report: SRPT, DISH
Bargain hunters are advised to pay close attention to insider buying because while there are many reasons for an insider to sell a stock, the only reason they would likely use their hard-earned cash to make a purchase is that it expects to make money. Today we take a look at two notable recent insider buys.
At Sarepta Therapeutics (SRPT), an SEC filing revealed that on Friday, director Michael Andrew Chambers purchased 46,170 shares of SRPT, at a cost of $108.28 each, for a total investment of $5 million. Sarepta Therapeutics is trading down around 2.2% on Monday.
And at DISH Network Corp (DISH), there was some insider buying on Wednesday, with James Defranco buying 160,373 shares at a cost of $18.53 each, for a trade totaling $2.97 million. Prior to this latest purchase, Defranco purchased DISH on 3 other occasions over the past year, for a total cost of $25.03M at an average of $19.40 per share. DISH Network Corp is trading around 2% on Monday day. Investors can buy DISH at an even lower price than Defranco, with shares changing hands as low as $17.94 at last check today, 3.2% below Defranco’s buy price .
VIDEO: Monday 8/22 Insider Buying Report: SRPT, DISH
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.