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 Clene, a filing with the SEC revealed that on Friday, David J. Matlin bought 1,500,000 shares of CLNN, at a cost of $0.80 each, for a total investment of $1.2M. Matlin was up about 12.5% on the buy at the high point of today's trading session, with CLNN trading as high as $0.90 at last check today. Clene is trading off about 0.2% on the day Tuesday. Before this latest buy, Matlin made one other purchase in the past twelve months, buying $2.9M shares at a cost of $1.01 each.
And on Thursday, Director Gerald L. Kilcoyne bought $183,308 worth of First Business Financial Services, buying 6,000 shares at a cost of $30.55 a piece. Before this latest buy, Kilcoyne made one other buy in the past year, purchasing $164,974 shares at a cost of $32.99 each. First Business Financial Services is trading down about 0.2% on the day Tuesday. Investors can pick up FBIZ even cheaper than Kilcoyne did, with shares trading as low as $29.62 at last check today -- that's 3.0% under Kilcoyne's purchase price.
VIDEO: Tuesday 6/20 Insider Buying Report: CLNN, FBIZ
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