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 Monday, Cousins Properties (NYSE:CUZ)'s , Thomas G. Cousins, made a $123,905 purchase of CUZ, buying 10,000 shares at a cost of $12.39 a piece. Bargain hunters are able to grab CUZ even cheaper than Cousins did, with the stock trading as low as $12.01 in trading on Thursday -- that's 3.1% below Cousins's purchase price. Cousins Properties is trading off about 0.3% on the day Thursday. Before this latest buy, Cousins purchased CUZ at 4 other times during the past twelve months, for a total cost of $3.97M at an average of $12.72 per share.
And on Wednesday, President, CFO & Treasurer Randall D. Keys purchased $82,160 worth of Evolution Petroleum Corp (AMEX:EPM), purchasing 8,913 shares at a cost of $9.22 a piece. This buy marks the first one filed by Keys in the past year. Evolution Petroleum Corp is trading off about 1% on the day Thursday.
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