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.
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 EnPro Industries, a filing with the SEC revealed that on Thursday, Director John Humphrey purchased 2,500 shares of NPO, for a cost of $83.36 each, for a total investment of $208,412.
So far Humphrey is in the green, up about 9.0% on their purchase based on today's trading high of $90.83.
EnPro Industries is trading down about 0.5% on the day Tuesday.
And at Cleveland-Cliffs, there was insider buying on Friday, by EVP, Chief Financial Officer Keith Koci who bought 15,000 shares for a cost of $13.45 each, for a trade totaling $201,735.
Before this latest buy, Koci made one other buy in the past twelve months, purchasing $102,248 shares for a cost of $4.09 a piece.
Cleveland-Cliffs is trading up about 4.2% on the day Tuesday.
So far Koci is in the green, up about 13.4% on their purchase based on today's trading high of $15.25.