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.
At Home Depot ( HD ), a filing with the SEC revealed that on Wednesday, Director Gregory D. Brenneman purchased 40,000 shares of HD, at a cost of $124.73 each, for a total investment of $4.99M. Brenneman was up about 1.8% on the buy at the high point of today's trading session, with HD trading as high as $126.99 in trading on Monday. Home Depot is trading down about 0.5% on the day Monday.
And at Avis Budget Group ( CAR ), there was insider buying on Thursday, by Director Eduardo G. Mestre who purchased 20,000 shares for a cost of $23.77 each, for a trade totaling $475,400. This buy marks the first one filed by Mestre in the past year. Avis Budget Group is trading up about 3.8% on the day Monday. So far Mestre is in the green, up about 9.4% on their purchase based on today's trading high of $26.00.
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