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 Monday, Nortech System's CFO, Christopher Dean Jones, made a $24,814 purchase of NSYS, buying 3,405 shares at a cost of $7.29 a piece. So far Jones is in the green, up about 44.5% on their buy based on today's trading high of $10.53. Nortech Systems is trading up about 26.3% on the day Friday. Before this latest buy, Jones purchased NSYS at 2 other times during the past twelve months, for a total investment of $102,702 at an average of $6.16 per share.
And at CalAmp, there was insider buying on Tuesday, by CEO Jeffery R. Gardner who bought 1,000 shares for a cost of $12.90 each, for a total investment of $12,900. Before this latest buy, Gardner purchased CAMP at 3 other times during the past year, for a total investment of $21,248 at an average of $8.50 per share. CalAmp Corp is trading off about 0.9% on the day Friday. Investors are able to pick up CAMP at a price even lower than Gardner did, with the stock trading as low as $12.58 at last check today -- that's 2.5% below Gardner's purchase price.
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