There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on December 15, PDL BioPharma Inc's Vice President, CFO, Peter S. Garcia, invested $52,444.50 into 15,000 shares of PDLI, for a cost per share of $3.50. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.In trading on Monday, bargain hunters could buy shares of PDL BioPharma Inc ( PDLI - Get Report) and achieve a cost basis 11.6% cheaper than Garcia, with shares changing hands as low as $3.09 per share. PDL BioPharma Inc shares are currently trading up about 1.3% on the day. The chart below shows the one year performance of PDLI shares, versus its 200 day moving average: Looking at the chart above, PDLI's low point in its 52 week range is $2.58 per share, with $7.43 as the 52 week high point — that compares with a last trade of $3.16. By comparison, below is a table showing the prices at which PDLI insider buying was recorded over the last six months:
|12/07/2015||Steffen Pietzke||Controller and CAO||20,590||$3.64||$74,931.13|
|12/15/2015||Peter S. Garcia||Vice President, CFO||15,000||$3.50||$52,444.50|
According to the ETF Finder at ETF Channel, PDLI makes up 1.12% of the SuperDividend U.S. ETF ( DIV) which is trading up by about 0.8% on the day Monday.