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 Friday, Dominion Resources Inc (NYSE:D)'s Director, Mark J. Kington, made a $1.25M purchase of D, buying 25,000 shares at a cost of $49.82 each. So far Kington is in the green, up about 0.9% on their purchase based on today's trading high of $50.27. Dominion Resources Inc is trading off about 0.3% on the day Wednesday. Before this latest buy, Kington bought Dominion Resources on 3 other occasions during the past year, for a total investment of $487,013 at an average of $49.70 per share.
And on Tuesday, Director Richard B. Crowell purchased $166,700 worth of Hancock Holding Co. (NASDAQ:HBHC), purchasing 5,000 shares at a cost of $33.34 a piece. This purchase marks the first one filed by Crowell in the past twelve months. Hancock Holding Co. is trading up about 0.9% on the day Wednesday.
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