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.
At Hercules Offshore (NASDAQ:HERO), a filing with the SEC revealed that on Friday, Director Steven A. Webster bought 50,000 shares of HERO, for a cost of $4.59 each, for a total investment of $229,462. Hercules Offshore is trading up about 2.4% on the day Tuesday. Before this latest buy, Webster made one other purchase in the past twelve months, buying $658,410 worth of shares for a cost of $6.58 each.
And at Flowers Foods (NYSE:FLO), there was insider buying on Friday, by Director Amos R. McMullian who bought 10,000 shares at a cost of $19.78 each, for a total investment of $197,753. This buy marks the first one filed by McMullian in the past year. Flowers Foods is trading up about 2.1% on the day Tuesday.
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