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, Quidel Corp. (NASDAQ:QDEL)'s CEO, Douglas C. Bryant, made a $165,462 purchase of QDEL, buying 10,000 shares at a cost of $16.55 a piece. Bryant was up about 4.8% on the purchase at the high point of today's trading session, with QDEL trading as high as $17.34 in trading on Thursday. Quidel Corp. is trading up about 3.9% on the day Thursday. Before this latest buy, Bryant bought QDEL on 3 other occasions during the past year, for a total investment of $473,324 at an average of $14.17 per share.
And also on Monday, Director Vance K. Opperman bought $122,000 worth of TCF Financial Corp. (TCB), buying 10,000 shares at a cost of $12.20 a piece. TCF Financial Corp. is trading down about 0.2% on the day Thursday.
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