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, Tri Continental's, Raghavendran Sivaraman, made a $81,211 buy of TY, purchasing 3,000 shares at a cost of $27.07 a piece. Tri Continental is trading up about 0.2% on the day Friday. This purchase marks the first one filed by Sivaraman in the past year.
And on Monday, Director Kathryn Hayley purchased $25,179 worth of Concentrix, purchasing 300 shares at a cost of $83.93 a piece. This buy marks the first one filed by Hayley in the past year. Concentrix is trading up about 1.6% on the day Friday. Bargain hunters can snag CNXC at a price even lower than Hayley did, with shares trading as low as $80.14 in trading on Friday -- that's 4.5% below Hayley's purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
