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, Tronox (NYSE:TROX)'s CEO Thomas Casey, made a $426,494 buy of TROX, purchasing 20,000 shares at a cost of $21.32 each. Tronox is trading up about 3.7% on the day Tuesday. Before this latest buy, Casey made one other buy in the past year, purchasing $424,850 shares for a cost of $21.24 each.
And on Friday, Director Ronald Roth purchased $176,050 worth of Clearfield (NASDAQ:CLFD), purchasing 10,000 shares at a cost of $17.61 each. Before this latest buy, Roth purchased CLFD at 3 other times during the past twelve months, for a total cost of $292,186 at an average of $9.74 per share. Clearfield is trading up about 1.4% on the day Tuesday.
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