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, Casella Waste Systems, Inc. (NASDAQ:CWST)'s COO, Edwin D. Johnson, made a $81,000 buy of CWST, purchasing 20,000 shares at a cost of $4.05 a piece. Johnson was up about 5.4% on the buy at the high point of today's trading session, with CWST trading as high as $4.27 in trading on Tuesday. Casella Waste Systems, Inc. is trading up about 4.2% on the day Tuesday. Before this latest buy, Johnson bought CWST at 2 other times during the past year, for a total investment of $128,750 at an average of $4.29 per share.
And at Winnebago Industries, Inc. (NYSE:WGO), there was insider buying on Monday, by Director Mark T. Schroepfer who purchased 2,000 shares for a cost of $17.99 each, for a trade totaling $35,972. Before this latest buy, Schroepfer made one other buy in the past year, purchasing $20,000 shares at a cost of $10.00 each. Winnebago Industries, Inc. is trading up about 1.7% on the day Tuesday.
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