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 cash to make a purchase, is that they expect to
make money. Today we look at two noteworthy recent insider buys.
On Thursday, Conmed (
)'s Interim CEO, Curt R. Hartman, made a $392,496 purchase of CNMD,
buying 10,000 shares at a cost of $39.25 a piece. Conmed is trading
down about 1.7% on the day Monday. This purchase marks the first
one filed by Hartman in the past year.
And on Friday, Chief Financial Officer Kenneth Booth purchased
$226,500 worth of Credit Acceptance (
), purchasing 2,000 shares at a cost of $113.25 a piece. Credit
Acceptance is trading up about 2.1% on the day Monday. So far Booth
is in the green, up about 2.8% on their purchase based on today's
trading high of $116.44.
VIDEO: Monday 8/4 Insider Buying Report: CNMD,