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.
On Tuesday, Dominion Resources Inc (NYSE:D)'s CEO, Thomas F. Farrell II, made a $247,492 buy of D, purchasing 5,000 shares at a cost of $49.50 a piece. Farrell II was up about 1.9% on the buy at the high point of today's trading session, with D trading as high as $50.43 in trading on Wednesday. Dominion Resources Inc is trading up about 0.7% on the day Wednesday. Before this latest buy, Farrell II bought D on 2 other occasions during the past twelve months, for a total investment of $232,916 at an average of $46.58 per share.
And also on Tuesday, Director Ronald G. Roth bought $111,785 worth of Clearfield Inc (NASDAQ:CLFD), buying 20,000 shares at a cost of $5.59 each. Before this latest buy, Roth made one other buy in the past twelve months, purchasing $87,612 shares at a cost of $5.84 each. Clearfield Inc is trading up about 3.6% on the day Wednesday. Roth was up about 5.6% on the buy at the high point of today's trading session, with CLFD trading as high as $5.90 in trading on Wednesday.
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