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 Texas Capital Bancshares, a filing with the SEC revealed that on Friday, Director Robert W. Stallings purchased 17,098 shares of TCBI, for a cost of $61.66 each, for a total investment of $1.05M. Texas Capital Bancshares is trading down about 1.1% on the day Tuesday. Before this latest buy, Stallings bought TCBI at 4 other times during the past year, for a total cost of $4.15M at an average of $60.19 per share.
And at Bed, Bath & Beyond, there was insider buying on Monday, by EVP, CFO Gustavo Arnal who bought 12,500 shares for a cost of $20.44 each, for a total investment of $255,550. Before this latest buy, Arnal made one other buy in the past twelve months, purchasing $509,000 shares at a cost of $25.45 a piece. Bed, Bath & Beyond is trading up about 0.7% on the day Tuesday. So far Arnal is in the green, up about 11.8% on their purchase based on today's trading high of $22.85.
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