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 Wednesday, Taylor Capital Group, Inc (NASDAQ:TAYC)'s Director, M. Hill Hammock, made a $417,787 purchase of TAYC, buying 30,000 shares at a cost of $13.93 a piece. Hammock was up about 5.5% on the purchase at the high point of today's trading session, with TAYC trading as high as $14.69 at last check today. Taylor Capital Group, Inc is trading up about 0.2% on the day Friday.
And also on Wednesday, Director William C. Rhodes III purchased $238,250 worth of Dollar General Corp (NYSE:DG), purchasing 5,000 shares at a cost of $47.65 each. This buy marks the first one filed by Rhodes III in the past twelve months. Dollar General Corp is trading up about 0.9% on the day Friday. So far Rhodes III is in the green, up about 3.8% on their buy based on today's trading high of $49.47.
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