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 Cullen/Frost Bankers, a filing with the SEC revealed that on Monday, Director Chris Avery purchased 5,000 shares of CFR, at a cost of $131.55 each, for a total investment of $657,750. Avery was up about 2.6% on the purchase at the high point of today's trading session, with CFR trading as high as $134.96 at last check today. Cullen/Frost Bankers is trading down about 2.6% on the day Thursday.
And at BGSF, there was insider buying on Monday, by Director Douglas Hailey who purchased 20,000 shares for a cost of $12.68 each, for a total investment of $253,600. Before this latest buy, Hailey made one other buy in the past twelve months, purchasing $342,492 shares at a cost of $13.70 each. BGSF is trading down about 0.3% on the day Thursday. So far Hailey is in the green, up about 4.7% on their buy based on today's trading high of $13.28.
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