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 Texas Instruments ( TXN ), a filing with the SEC revealed that on Thursday, Director Martin S. Craighead purchased 10,900 shares of TXN, at a cost of $91.70 each, for a total investment of $999,496. Texas Instruments is trading up about 2.5% on the day Tuesday. This buy marks the first one filed by Craighead in the past year.
And at Lakeland Financial Corp ( LKFN ), there was insider buying on Monday, by Director M. Scott Welch who bought 8,000 shares at a cost of $42.25 each, for a total investment of $337,968. Before this latest buy, Welch made one other purchase in the past year, buying $1.14M shares for a cost of $45.64 each. Lakeland Financial Corp is trading up about 1.8% on the day Tuesday. Welch was up about 2.1% on the buy at the high point of today's trading session, with LKFN trading as high as $43.12 at last check today.