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. (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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