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 one noteworthy recent insider buy.
On Tuesday, HCI Group's Chief Executive Officer, Paresh Patel, made a $114,900 purchase of HCI, buying 1,000 shares at a cost of $114.90 a piece. Investors are able to pick up HCI even cheaper than Patel did, with the stock changing hands as low as $109.93 at last check today which is 4.3% below Patel's purchase price. HCI Group is trading down about 1.6% on the day Thursday. This purchase marks the first one filed by Patel in the past year.
VIDEO: Thursday 4/11 Insider Buying Report: HCI
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