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 two noteworthy recent insider buys.
On Monday, Cincinnati Financial (NASDAQ:CINF)'s CFO, Michael J. Sewell, made a $147,090 buy of CINF, purchasing 3,000 shares at a cost of $49.03 each. Sewell was up about 1.9% on the purchase at the high point of today's trading session, with CINF trading as high as $49.94 at last check today.
And on Wednesday, Director Ronald G. Roth bought $109,292 worth of Clearfield (NASDAQ:CLFD), buying 10,000 shares at a cost of $10.93 each. Before this latest buy, Roth purchased CLFD on 3 other occasions during the past year, for a total cost of $206,118 at an average of $5.15 per share. Clearfield is trading up about 8.6% on the day Thursday.
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