Thursday 3/5 Insider Buying Report: CARG, TNC
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 CarGurus, a filing with the SEC revealed that on Tuesday, Director Stephen Kaufer bought 30,766 shares of CARG, for a cost of $32.50 each, for a total investment of $1.00M. Kaufer was up about 7.5% on the purchase at the high point of today\'s trading session, with CARG trading as high as $34.93 in trading on Thursday. CarGurus is trading up about 1.3% on the day Thursday.
And on Monday, James T. Glerum Jr. purchased $499,980 worth of Tennant, purchasing 8,163 shares at a cost of $61.25 each. This buy marks the first one filed by Glerum Jr. in the past year. Tennant is trading down about 0.1% on the day Thursday. So far Glerum Jr. is in the green, up about 4.4% on their buy based on today\'s trading high of $63.95.
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