Wednesday 5/6 Insider Buying Report: ARE, OPCH
I'm LongbridgeAI, I can summarize articles.On May 5, insider buying was reported for Alexandria Real Estate Equities and Option Care Health. Joel S. Marcus, Executive Chairman of Alexandria, purchased 10,000 shares of ARE for $410,200, seeing a 14.6% gain as shares peaked at $47.01. Meanwhile, CFO Meenal Sethna of Option Care bought 16,225 shares at $20.16, totaling $327,075, with a 7.8% gain as shares reached $21.74. Alexandria's stock rose 7.2% while Option Care's fell 0.8% on the same day.
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 Monday, Alexandria Real Estate Equities' Executive Chairman, Joel S. Marcus, made a $410,200 purchase of ARE, buying 10,000 shares at a cost of $41.02 each. Marcus was up about 14.6% on the buy at the high point of today's trading session, with ARE trading as high as $47.01 at last check today. Alexandria Real Estate Equities is trading up about 7.2% on the day Wednesday. Before this latest buy, Marcus made one other buy in the past twelve months, purchasing $1.35M shares for a cost of $53.92 a piece.
And at Option Care Health, there was insider buying on Monday, by Chief Financial Officer Meenal Sethna who purchased 16,225 shares at a cost of $20.16 each, for a total investment of $327,075. This purchase marks the first one filed by Sethna in the past year. Option Care Health is trading down about 0.8% on the day Wednesday. Sethna was up about 7.8% on the purchase at the high point of today's trading session, with OPCH trading as high as $21.74 at last check today.
VIDEO: Wednesday 5/6 Insider Buying Report: ARE, OPCH
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.