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.
On Thursday, Imperial Holdings (IFT)'s Chief Executive Officer, Antony Mitchell, made a $200,820 purchase of IFT, buying 35,000 shares at a cost of $5.74 a piece. So far Mitchell is in the green, up about 2.8% on their buy based on today's trading high of $5.90. Imperial Holdings is trading up about 2.4% on the day Monday.
And on Wednesday, Director Parm Sandhu purchased $193,765 worth of Central European Media Enterprises (NASDAQ:CETV), purchasing 50,000 shares at a cost of $3.88 a piece. Central European Media Enterprises is trading up about 1.4% on the day Monday. Sandhu was up about 7.6% on the purchase at the high point of today's trading session, with CETV trading as high as $4.17 in trading on Monday.
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