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, Interface (TILE)'s , Christopher G. Kennedy, made a $673,337 buy of TILE, purchasing 49,000 shares at a cost of $13.74 a piece. Kennedy was up about 5.4% on the purchase at the high point of today's trading session, with TILE trading as high as $14.49 in trading on Friday. Interface is trading up about 2.1% on the day Friday. This buy marks the first one filed by Kennedy in the past twelve months.
And at Ulta Beauty (ULTA), there was insider buying on Thursday, by Chief Executive Officer Mary N. Dillon who purchased 1,300 shares for a cost of $237.17 each, for a trade totaling $308,321. This buy marks the first one filed by Dillon in the past year. Ulta Beauty is trading up about 2.6% on the day Friday. So far Dillon is in the green, up about 2.3% on their buy based on today's trading high of $242.63.
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