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 Arrow Electronics, a filing with the SEC revealed that on Friday, CEO Sean J. Kerins bought 8,630 shares of ARW, for a cost of $114.91 each, for a total investment of $991,693. So far Kerins is in the green, up about 4.2% on their purchase based on today's trading high of $119.70. Arrow Electronics is trading up about 1.6% on the day Tuesday. This purchase marks the first one filed by Kerins in the past year.
And also on Friday, CO-CEO Michael Louis Battles purchased $467,000 worth of Clean Harbors, purchasing 2,000 shares at a cost of $233.50 each. Clean Harbors is trading up about 1.1% on the day Tuesday. So far Battles is in the green, up about 2.4% on their buy based on today's trading high of $239.10.
VIDEO: Tuesday 8/5 Insider Buying Report: ARW, CLH
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