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 Tuesday, Chipotle Mexican Grill (NYSE:CMG)'s Director, Jeffrey B. Kindler, made a $509,576 buy of CMG, purchasing 1,000 shares at a cost of $509.58 each. Chipotle Mexican Grill is trading up about 0.7% on the day Thursday. This purchase marks the first one filed by Kindler in the past year.
And at Republic First Bancorp (NASDAQ:FRBK), there was insider buying on Monday, by Director Brian Tierney who purchased 26,316 shares for a cost of $3.80 each, for a trade totaling $100,001. Republic First Bancorp is trading up about 1.2% on the day Thursday. Tierney was up about 12.6% on the buy at the high point of today's trading session, with FRBK trading as high as $4.28 at last check today.
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