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, Harbor Custom Development's Director, Larry G. Swets Jr., made a $105,000 purchase of HCDI, buying 35,000 shares at a cost of $3.00 a piece. Swets Jr. was up about 10.0% on the buy at the high point of today's trading session, with HCDI trading as high as $3.30 at last check today. Harbor Custom Development is trading up about 5.1% on the day Wednesday. Before this latest buy, Swets Jr. made one other purchase in the past twelve months, buying $99,996 shares at a cost of $6.00 a piece.
And also on Friday, Director Robert J. Henkel purchased $27,110 worth of Owens & Minor, purchasing 1,000 shares at a cost of $27.11 each. Before this latest buy, Henkel bought OMI on 2 other occasions during the past twelve months, for a total investment of $202,500 at an average of $10.12 per share. Owens & Minor, is trading trading flat on the day Wednesday. So far Henkel is in the green, up about 3.3% on their purchase based on today's trading high of $28.01.
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