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.
At CAMAC Energy Inc. (AMEX:CAK), a filing with the SEC revealed that on Wednesday, CEO Kase Lukman Lawal bought 105,000 shares of CAK, for a cost of $0.99 each, for a total investment of $103,950. So far Lawal is in the green, up about 5.1% on their buy based on today's trading high of $1.04. CAMAC Energy Inc. is trading up about 3% on the day Monday. Before this latest buy, Lawal made one other purchase in the past twelve months, buying $68,750 shares at a cost of $0.86 a piece.
And at Vera Bradley Inc. (NASDAQ:VRA), there was insider buying on Thursday, by Corporate Controller Kevin J. Sierks who bought 1,000 shares for a cost of $28.71 each, for a total investment of $28,714. This buy marks the first one filed by Sierks in the past twelve months. Vera Bradley Inc. is trading up about 1.5% on the day Monday. Sierks was up about 7.9% on the purchase at the high point of today's trading session, with VRA trading as high as $30.97 in trading on Monday.
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