Tuesday 8/18 Insider Buying Report: CDNL, BFLY
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 Cardinal Infrastructure Group, a filing with the SEC revealed that on Friday, Director Richard Melvin Lee Jr. purchased 34,000 shares of CDNL, at a cost of $36.82 each, for a total investment of $1.25M. Lee Jr. was up about 16.6% on the buy at the high point of today's trading session, with CDNL trading as high as $42.93 in trading on Tuesday. Cardinal Infrastructure Group is trading up about 5.9% on the day Tuesday. Before this latest buy, Lee Jr. made one other purchase in the past twelve months, buying $477,225 shares for a cost of $21.00 each.
And also on Friday, Director S. Louise Phanstiel bought $999,510 worth of Butterfly Network, buying 115,200 shares at a cost of $8.68 a piece. Before this latest buy, Phanstiel made one other purchase in the past year, buying $571,160 shares for a cost of $3.08 each. Butterfly Network Inc is trading up about 3.5% on the day Tuesday. So far Phanstiel is in the green, up about 8.6% on their buy based on today's trading high of $9.42.
VIDEO: Tuesday 8/18 Insider Buying Report: CDNL, BFLY 