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.
At Swift Energy Company (NYSE:SFY), a filing with the SEC revealed that on Tuesday, CFO Alton D. Heckaman Jr. bought 5,000 shares of SFY, at a cost of $15.00 each, for a total investment of $75,000. Heckaman Jr. was up about 18.3% on the buy at the high point of today's trading session, with SFY trading as high as $17.74 at last check today. Swift Energy Company is trading up about 4.6% on the day Thursday. Before this latest buy, Heckaman Jr. bought SFY at 2 other times during the past year, for a total cost of $298,850 at an average of $19.92 per share.
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