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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Condor Hospitality Trust (CDOR), a filing with the SEC revealed that on Wednesday, CEO J. William Blackham III purchased 71,428 shares of CDOR, for a cost of $10.50 each, for a total investment of $749,994. Condor Hospitality Trust is trading up about 0.3% on the day Friday. This buy marks the first one filed by Blackham III in the past twelve months.
And on Tuesday, Scott Haufe purchased $323,289 worth of Medovex Corp (MDVX), purchasing 250,612 shares at a cost of $1.29 a piece. Before this latest buy, Haufe made one other purchase in the past year, buying $323,289 shares for a cost of $1.29 a piece. Medovex Corp is trading up about 2.4% on the day Friday. So far Haufe is in the green, up about 30.2% on their buy based on today's trading high of $1.68.
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