As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Thursday, Quidel (NASDAQ:QDEL)'s CEO, Douglas C. Bryant, made a $482,310 purchase of QDEL, buying 20,000 shares at a cost of $24.12 a piece. Bargain hunters are able to grab QDEL at a price even lower than Bryant did, with the stock changing hands as low as $22.37 at last check today which is 7.2% below Bryant's purchase price. Quidel is trading up about 2% on the day Monday. This purchase marks the first one filed by Bryant in the past twelve months.
And on Friday, CEO Chong Guk Kum purchased $183,312 worth of Hanmi Financial (NASDAQ:HAFC), purchasing 8,750 shares at a cost of $20.95 each. Before this latest buy, Kum bought HAFC on 3 other occasions during the past year, for a total cost of $608,465 at an average of $16.52 per share. Hanmi Financial is trading off about 0.6% on the day Monday.
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