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.
At Aaron's (NYSE:AAN), a filing with the SEC revealed that on Monday, EVP Aaron's, President/CEO Pro John W. Robinson bought 50,000 shares of AAN, at a cost of $28.96 each, for a total investment of $1.45M. Robinson was up about 1.2% on the purchase at the high point of today's trading session, with AAN trading as high as $29.31 in trading on Wednesday. Aaron's is trading up about 0.7% on the day Wednesday. This purchase marks the first one filed by Robinson in the past twelve months.
And at Clearfield (NASDAQ:CLFD), there was insider buying on Tuesday, by Director Ronald G. Roth who purchased 15,000 shares at a cost of $14.89 each, for a total investment of $223,350. Before this latest buy, Roth purchased CLFD on 6 other occasions during the past year, for a total investment of $694,136 at an average of $13.88 per share. Clearfield is trading up about 2.5% on the day Wednesday. Roth was up about 7.3% on the buy at the high point of today's trading session, with CLFD trading as high as $15.97 at last check today.
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