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 Windstream Corp (NASDAQ:WIN), a filing with the SEC revealed that on Thursday, CEO Jeffery R. Gardner bought 31,750 shares of WIN, for a cost of $9.20 each, for a total investment of $292,084. Windstream Corp is trading down about 0.6% on the day Friday. Before this latest buy, Gardner purchased WIN on 5 other occasions during the past twelve months, for a total investment of $154,216 at an average of $9.64 per share.
And at Allison Transmission Holdings Inc (NYSE:ALSN), there was insider buying on Wednesday, by CEO Lawrence E. Dewey who purchased 11,000 shares for a cost of $18.76 each, for a trade totaling $206,310. This purchase marks the first one filed by Dewey in the past year. Allison Transmission Holdings Inc is trading down about 2% on the day Friday. Investors have the opportunity to buy ALSN at a price even lower than Dewey did, with shares changing hands as low as $17.91 at last check today -- that's 4.5% under Dewey's purchase price.
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