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 Swift Energy (NYSE:SFY), a filing with the SEC revealed that on Friday, Douglas J. Lanier bought 5,000 shares of SFY, for a cost of $11.52 each, for a total investment of $57,592. Lanier was up about 4.9% on the purchase at the high point of today's trading session, with SFY trading as high as $12.08 in trading on Wednesday. Before this latest buy, Lanier made one other buy in the past year, purchasing $39,598 shares for a cost of $15.84 each.
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