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 Topgolf Callaway Brands, a filing with the SEC revealed that on Thursday, Director Adebayo O. Ogunlesi purchased 100,000 shares of MODG, at a cost of $19.45 each, for a total investment of $1.94M. Ogunlesi was up about 3.4% on the buy at the high point of today's trading session, with MODG trading as high as $20.11 at last check today. Topgolf Callaway Brands is trading up about 3.6% on the day Friday.
And on Wednesday, CEO Thomas W. Warsop III purchased $1.02M worth of ACI Worldwide, purchasing 43,000 shares at a cost of $23.63 a piece. ACI Worldwide is trading up about 2.3% on the day Friday.
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