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 Tuesday, Cincinnati Financial's , Dirk J. Debbink, made a $205,960 purchase of CINF, buying 2,000 shares at a cost of $102.98 a piece. So far Debbink is down about 0.5% on the buy, with shares changing hands as low as $102.48 in trading on Friday. Cincinnati Financial is trading trading flat on the day Friday.
And on Wednesday, Director Jeffrey C. Royal purchased $150,411 worth of Boston Omaha, purchasing 10,000 shares at a cost of $15.04 a piece. Before this latest buy, Royal made one other purchase in the past year, buying $192,300 shares at a cost of $19.23 each. Boston Omaha is trading up about 2.8% on the day Friday. So far Royal is in the green, up about 3.9% on their purchase based on today's trading high of $15.63.
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