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.
At Carnival, a filing with the SEC revealed that on Wednesday, Director Randall J. Weisenburger purchased 100,000 shares of CCL, for a cost of $11.76 each, for a total investment of $1.18M. Weisenburger was up about 18.1% on the buy at the high point of today's trading session, with CCL trading as high as $13.88 in trading on Friday. Carnival is trading up about 4.8% on the day Friday.
And on Tuesday, Director Jeffrey Keenan purchased $264,060 worth of Schweitzer-Mauduit International, purchasing 10,000 shares at a cost of $26.41 a piece. Before this latest buy, Keenan purchased SWM on 6 other occasions during the past twelve months, for a total investment of $1.43M at an average of $26.89 per share. Schweitzer-Mauduit International is trading up about 1.7% on the day Friday. Keenan was up about 4.9% on the purchase at the high point of today's trading session, with SWM trading as high as $27.70 at last check today
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