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, CapStar Financial Holdings ( CSTR )'s Director, Dennis Bottorff, made a $490,153 buy of CSTR, purchasing 29,000 shares at a cost of $16.90 a piece. CapStar Financial Holdings is trading trading flat on the day Friday. This buy marks the first one filed by Bottorff in the past twelve months.
And on Tuesday, Director Richard Nigon bought $217,456 worth of Celcuity ( CELC ), buying 9,747 shares at a cost of $22.31 a piece. Before this latest buy, Nigon bought CELC at 2 other times during the past twelve months, for a total investment of $278,250 at an average of $17.39 per share. Celcuity is trading up about 6.7% on the day Friday. Nigon was up about 25.7% on the purchase at the high point of today's trading session, with CELC trading as high as $28.05 at last check today.