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 Cannae Holdings, a filing with the SEC revealed that on Friday, Chief Executive Officer Richard N. Massey purchased 50,000 shares of CNNE, at a cost of $18.01 each, for a total investment of $900,615. So far Massey is in the green, up about 3.8% on their purchase based on today's trading high of $18.70. Cannae Holdings is trading up about 3.1% on the day Monday. This purchase marks the first one filed by Massey in the past year.
And at Compass Diversified, there was insider buying on Wednesday, by Elias Sabo who purchased 34,796 shares for a cost of $18.80 each, for a total investment of $654,269. Compass Diversified is trading off about 1.2% on the day Monday. Sabo was up about 7.3% on the buy at the high point of today's trading session, with CODI trading as high as $20.17 in trading on Monday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
