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 one noteworthy recent insider buy.
On Thursday, Director Tracy W. Hylton II purchased $255,769 worth of City Holding (NASDAQ:CHCO), purchasing 6,000 shares at a cost of $42.63 each. This buy marks the first one filed by Hylton II in the past year. City Holding is trading down about 0.6% on the day Tuesday. Investors have the opportunity to buy CHCO at a price even lower than Hylton II did, with the stock trading as low as $42.05 at last check today which is 1.4% below Hylton II's purchase price.
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