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 Tuesday, Huntington Bancshares, Inc (NASDAQ:HBAN)'s Senior Vice President, Daniel B. Benhase, made a $63,074 buy of HBAN, purchasing 10,000 shares at a cost of $6.31 a piece. Benhase was up about 1.3% on the purchase at the high point of today's trading session, with HBAN trading as high as $6.39 in trading on Thursday. Huntington Bancshares, Inc is trading up about 1.6% on the day Thursday. Before this latest buy, Benhase bought HBAN at 2 other times during the past twelve months, for a total investment of $97,546 at an average of $6.50 per share.
And at Voxx International Corp (NASDAQ:VOXX), there was insider buying on Tuesday, by EVP/CFO for Klipsch Group Inc. Frederick L. Farrar who purchased 7,000 shares for a cost of $6.04 each, for a trade totaling $42,280. Voxx International Corp is trading trading flat on the day Thursday. So far Farrar is in the green, up about 8.8% on their buy based on today's trading high of $6.57.
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