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 Friday, CIBER (CBR)'s Director, Bobby G. Stevenson, made a $368,727 purchase of CBR, buying 100,000 shares at a cost of $3.69 a piece. So far Stevenson is in the green, up about 5.0% on their buy based on today's trading high of $3.87. CIBER is trading up about 3.5% on the day Tuesday. This buy marks the first one filed by Stevenson in the past twelve months.
And also on Friday, Chief Executive Officer Scott E. Howe purchased $351,482 worth of Acxiom Corp. (NASDAQ:ACXM), purchasing 20,000 shares at a cost of $17.57 each. Acxiom is trading down about 0.1% on the day Tuesday. So far Howe is in the green, up about 6.3% on their buy based on today's trading high of $18.68.
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