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 a noteworthy recent insider buy.
At Evertec (NYSE:EVTC), a filing with the SEC revealed that on Tuesday, Director Frank D. D'angelo purchased 10,000 shares of EVTC, at a cost of $22.97 each, for a total investment of $229,670. Bargain hunters are able to snag EVTC even cheaper than D'angelo did, with shares trading as low as $22.59 at last check today -- that's 1.6% under D'angelo's purchase price.
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