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 Crane (NYSE:CR), a filing with the SEC revealed that on Thursday, CEO Max H. Mitchell bought 6,000 shares of CR, for a cost of $46.10 each, for a total investment of $276,589. So far Mitchell is in the green, up about 3.4% on their purchase based on today's trading high of $47.66. Crane is trading down about 0.9% on the day Monday. This purchase marks the first one filed by Mitchell in the past twelve months.
And at SEI Investments Company (NASDAQ:SEIC), there was insider buying on Friday, by Director Carl Guarino who bought 6,592 shares at a cost of $37.91 each, for a trade totaling $249,903. SEI Investments Company is trading off about 0.1% on the day Monday. So far Guarino is in the green, up about 4.2% on their purchase based on today's trading high of $39.52.
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