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 Monday, Tri Continental Corporation (NYSE:TY)'s , Todd White, made a $174,168 purchase of TY, buying 10,000 shares at a cost of $17.42 each. Tri Continental Corporation is trading up about 0.5% on the day Friday. Before this latest buy, White made one other buy in the past year, purchasing $154,438 shares for a cost of $17.16 a piece.
And on Thursday, Director Kevin P. Walker bought $99,840 worth of SCBT Financial Corp (NASDAQ:SCBT), buying 2,000 shares at a cost of $49.92 a piece. This purchase marks the first one filed by Walker in the past year. SCBT Financial Corp is trading up about 1.3% on the day Friday. Walker was up about 2.9% on the buy at the high point of today's trading session, with SCBT trading as high as $51.39 at last check today.
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