Friday 9/6 Insider Buying Report: AVD, CGNX
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.
At American Vanguard, a filing with the SEC revealed that on Wednesday, Keith M. Rosenbloom bought 136,492 shares of AVD, at a cost of $5.79 each, for a total investment of $790,844. So far Rosenbloom is in the green, up about 9.2% on their buy based on today's trading high of $6.33. American Vanguard is trading up about 2.1% on the day Friday. Before this latest buy, Rosenbloom purchased AVD on 4 other occasions during the past twelve months, for a total investment of $691,295 at an average of $7.22 per share.
And also on Wednesday, SVP, Chief Financial Officer Dennis Fehr bought $249,920 worth of Cognex, buying 6,570 shares at a cost of $38.04 each. This purchase marks the first one filed by Fehr in the past twelve months. Cognex is trading down about 2.3% on the day Friday.
VIDEO: Friday 9/6 Insider Buying Report: AVD, CGNX