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 Wednesday, Churchill Downs' Director, Douglas C. Grissom, made a $927,700 purchase of CHDN, buying 10,000 shares at a cost of $92.77 a piece. So far Grissom is in the green, up about 7.0% on their purchase based on today's trading high of $99.31. Churchill Downs is trading up about 3% on the day Monday.
And also on Wednesday, Director Pierre R. Breber bought $546,285 worth of Clorox, buying 4,000 shares at a cost of $136.57 each. Clorox Co is trading up about 2.3% on the day Monday.
VIDEO: Monday 5/12 Insider Buying Report: CHDN, CLX
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