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.
On Wednesday, Comtech Telecommunications's Director, Mark R. Quinlan, made a $888,570 buy of CMTL, purchasing 100,000 shares at a cost of $8.89 each. So far Quinlan is in the green, up about 11.9% on their purchase based on today's trading high of $9.94. Comtech Telecommunications is trading up about 7.5% on the day Monday. This purchase marks the first one filed by Quinlan in the past twelve months.
And also on Wednesday, Director Bronislaw Edmund Masojada purchased $263,120 worth of Brown & Brown, purchasing 4,000 shares at a cost of $65.78 a piece. This buy marks the first one filed by Masojada in the past year. Brown & Brown is trading off about 0.5% on the day Monday. Masojada was up about 1.6% on the purchase at the high point of today's trading session, with BRO trading as high as $66.80 in trading on Monday.
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