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.
On Monday, Crown Castle International ( CCI )'s Director, J. Landis Martin, made a $4.77M purchase of CCI, buying 60,000 shares at a cost of $79.47 each. Investors are able to snag CCI even cheaper than Martin did, with shares trading as low as $78.27 at last check today which is 1.5% under Martin's purchase price. Crown Castle International is trading up about 0.7% on the day Wednesday.
And at hhgregg ( HGG ), there was insider buying on Tuesday, by Chief Financial Officer Robert James Riesbeck who purchased 100,000 shares at a cost of $4.86 each, for a trade totaling $486,000. hhgregg is trading up about 8.5% on the day Wednesday. So far Riesbeck is in the green, up about 8.8% on their purchase based on today's trading high of $5.29.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
