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 dollars to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Friday, Director Ronald S. Beard purchased $32,850 worth of Callaway Golf (NYSE:ELY), purchasing 5,000 shares at a cost of $6.57 each. Callaway Golf Co. is trading trading flat on the day Wednesday. Beard was up about 1.7% on the buy at the high point of today's trading session, with ELY trading as high as $6.68 at last check today.
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