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 (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 (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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