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 Callaway Golf Co. (NYSE:ELY), a filing with the SEC revealed that on Monday, Sr. VP of Global Operations Mark F. Leposky bought 14,326 shares of ELY, at a cost of $7.01 each, for a total investment of $100,425. Callaway Golf Co. is trading up about 0.1% on the day Tuesday. Before this latest buy, Leposky made one other buy in the past twelve months, purchasing $99,849 shares for a cost of $5.75 each.
And at Home Properties Inc (NYSE:HME), there was insider buying on Friday, by Director Thomas P. Lydon Jr. who purchased 1,600 shares for a cost of $62.71 each, for a total investment of $100,336. This buy marks the first one filed by Lydon Jr. in the past twelve months. Home Properties Inc is trading up about 0.5% on the day Tuesday. Lydon Jr. was up about 1.2% on the buy at the high point of today's trading session, with HME trading as high as $63.48 at last check today.
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