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 Friday, Cincinnati Bell Inc (NYSE:CBB)'s CEO, Theodore H. Torbeck, made a $332,700 buy of CBB, purchasing 100,000 shares at a cost of $3.33 a piece. Torbeck was up about 2.8% on the buy at the high point of today's trading session, with CBB trading as high as $3.42 at last check today. Cincinnati Bell Inc is trading up about 0.9% on the day Wednesday.
And also on Friday, Chairman, CEO & President Craig S. Shular purchased $292,800 worth of Graftech International Ltd. (GTI), purchasing 40,000 shares at a cost of $7.32 a piece. Graftech International Ltd. is trading up about 5.1% on the day Wednesday. So far Shular is in the green, up about 9.2% on their buy based on today's trading high of $7.99.
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