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, Cable One's Director, Thomas Sinnickson Gayner, made a $588,875 buy of CABO, purchasing 500 shares at a cost of $1177.75 each. Cable One is trading off about 1.2% on the day Friday. Before this latest buy, Gayner bought CABO at 3 other times during the past twelve months, for a total cost of $6.58M at an average of $1290.20 per share.
And on Wednesday, CEO Marc C. Ganzi purchased $498,224 worth of DigitalBridge Group, purchasing 27,943 shares at a cost of $17.83 a piece. DigitalBridge Group is trading up about 1.7% on the day Friday. So far Ganzi is in the green, up about 5.2% on their buy based on today's trading high of $18.76.
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