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 Thursday, Fresh Market (TFM)'s , Jeffrey G. Naylor, made a $263,920 purchase of TFM, buying 8,000 shares at a cost of $32.99 a piece. Naylor was up about 5.1% on the buy at the high point of today's trading session, with TFM trading as high as $34.68 at last check today. Fresh Market is trading up about 2.6% on the day Tuesday. This purchase marks the first one filed by Naylor in the past year.
And at Hercules Offshore (HERO), there was insider buying on Monday, by Director Steven A. Webster who bought 50,000 shares for a cost of $4.56 each, for a total investment of $227,955. Before this latest buy, Webster bought HERO at 2 other times during the past twelve months, for a total investment of $887,872 at an average of $5.92 per share. Hercules Offshore is trading up about 1.2% on the day Tuesday. So far Webster is in the green, up about 4.4% on their buy based on today's trading high of $4.76.
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