Tuesday 4/5 Insider Buying Report: IGMS, CNNE

Bargain hunters are advised to pay close attention to insider buying, for although there are many reasons for an insider to sell a stock, the only reason he would likely use his hard-earned money to effect a purchase is that it expects to make money. Today we take a look at two notable recent insider buys.

On Friday, IGM Biosciences head Michael D. Loberg bought IGMS for $499,997, buying 21,739 shares at $23.00 apiece. So far, Loberg is in the green, up around 11.5% on its longs based on today’s trading high of $25.65. IGM Biosciences is trading up around 7.2% on Tuesday. This purchase is the first made by Loberg in the last twelve months.

And on Monday, Chief Executive Richard N. Massey bought Cannae Holdings for $484,854, buying 20,000 shares at a cost of $24.24 each. Prior to this latest purchase, Massey purchased CNNE on 3 other occasions over the past year, for a total cost of $746,467 at an average of $29.86 per share. Cannae Holdings is trading down around 0.8% on Tuesday.

VIDEO: Tuesday 4/5 Insider Buying Report: IGMS, CNNE

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