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 (NASDAQ: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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