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 Kid Brands, Inc. (KID), a filing with the SEC revealed that on Friday, Executive Chairman /Acting CEO Raphael Benaroya bought 250,000 shares of KID, for a cost of $1.55 each, for a total investment of $387,500. Kid Brands, Inc. is trading up about 16.6% on the day Wednesday. This buy marks the first one filed by Benaroya in the past year.
And at Applied Materials, Inc. (NASDAQ:AMAT), there was insider buying on Friday, by Director Robert Holmes Swan who purchased 8,890 shares for a cost of $11.22 each, for a total investment of $99,726. This buy marks the first one filed by Swan in the past twelve months. Applied Materials, Inc. is trading up about 0.1% on the day Wednesday. Bargain hunters are able to grab AMAT even cheaper than Swan did, with the stock trading as low as $10.86 at last check today -- that's 3.2% below Swan's purchase price.
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