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 Nike (NYSE:NKE), a filing with the SEC revealed that on Thursday, Director John C. Lechleiter bought 500 shares of NKE, for a cost of $92.28 each, for a total investment of $46,140. Bargain hunters are able to buy NKE at a price even lower than Lechleiter did, with shares changing hands as low as $90.60 in trading on Tuesday -- that's 1.8% under Lechleiter's purchase price. Nike is trading up about 1.4% on the day Tuesday. Before this latest buy, Lechleiter made one other buy in the past twelve months, purchasing $54,205 shares for a cost of $108.41 each.
And on Friday, CEO Victor P. Stabio purchased $28,673 worth of Hallador Energy Co (NASDAQ:HNRG), purchasing 3,695 shares at a cost of $7.76 a piece. Before this latest buy, Stabio purchased HNRG at 2 other times during the past year, for a total investment of $84,994 at an average of $7.52 per share. Hallador Energy Co is trading off about 0.9% on the day Tuesday. Stabio was up about 3.7% on the buy at the high point of today's trading session, with HNRG trading as high as $8.05 at last check today.
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