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 Calavo Growers, a filing with the SEC revealed that on Thursday, Chief Executive Officer Lecil E. Cole bought 75,000 shares of CVGW, for a cost of $30.34 each, for a total investment of $2.28M. So far Cole is in the green, up about 19.6% on their purchase based on today's trading high of $36.29. Calavo Growers is trading up about 16.6% on the day Monday. Before this latest buy, Cole purchased CVGW at 2 other times during the past twelve months, for a total investment of $2.61M at an average of $26.12 per share.
And at CADIZ, there was insider buying on Thursday, by Director Susan P. Kennedy who purchased 14,000 shares for a cost of $3.50 each, for a total investment of $49,000. Before this latest buy, Kennedy bought CDZI at 3 other times during the past twelve months, for a total investment of $255,280 at an average of $2.31 per share. CADIZ is trading up about 9.5% on the day Monday. Kennedy was up about 21.4% on the purchase at the high point of today's trading session, with CDZI trading as high as $4.25 at last check today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
