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.
On Thursday, Conmed (NASDAQ:CNMD)'s Interim CEO, Curt R. Hartman, made a $392,496 purchase of CNMD, buying 10,000 shares at a cost of $39.25 a piece. Conmed is trading down about 1.7% on the day Monday. This purchase marks the first one filed by Hartman in the past year.
And on Friday, Chief Financial Officer Kenneth Booth purchased $226,500 worth of Credit Acceptance (NASDAQ:CACC), purchasing 2,000 shares at a cost of $113.25 a piece. Credit Acceptance is trading up about 2.1% on the day Monday. So far Booth is in the green, up about 2.8% on their purchase based on today's trading high of $116.44.
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