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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Campus Crest Communities (NYSE:CCG), a filing with the SEC revealed that on Thursday, Executive Vice President Aaron Scott Halfacre bought 100,000 shares of CCG, at a cost of $8.13 each, for a total investment of $813,000. Bargain hunters can snag CCG at a price even lower than Halfacre did, with the stock trading as low as $7.86 in trading on Friday which is 3.3% under Halfacre's purchase price. Campus Crest Communities is trading off about 1.2% on the day Friday. This buy marks the first one filed by Halfacre in the past year.
And also on Thursday, Director Bryan C. Cressey purchased $691,108 worth of Belden (NYSE:BDC), purchasing 10,000 shares at a cost of $69.11 each. This buy marks the first one filed by Cressey in the past year. Belden is trading up about 0.9% on the day Friday.
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