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.
At Clene, a filing with the SEC revealed that on Tuesday, David J. Matlin bought 101,352 shares of CLNN, at a cost of $2.96 each, for a total investment of $300,002. Investors have the opportunity to snag CLNN at a price even lower than Matlin did, with shares trading as low as $2.69 at last check today -- that's 9.1% below Matlin's purchase price. Clene is trading down about 6.9% on the day Thursday. Before this latest buy, Matlin purchased CLNN on 2 other occasions during the past twelve months, for a total investment of $2.3M at an average of $8.58 per share.
And at CACI International, there was insider buying on Monday, by Chief Executive, CACI Limited Gregory R. Bradford who purchased 1,111 shares at a cost of $245.92 each, for a trade totaling $273,217. Before this latest buy, Bradford made one other purchase in the past twelve months, buying $498,885 shares for a cost of $219.29 a piece. CACI International is trading down about 1.2% on the day Thursday. So far Bradford is in the green, up about 3.8% on their buy based on today's trading high of $255.37.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
