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, CDW Corp (NASDAQ:CDW)'s Director, Steven W. Alesio, made a $244,500 buy of CDW, purchasing 7,500 shares at a cost of $32.60 each. So far Alesio is in the green, up about 1.8% on their buy based on today's trading high of $33.18. CDW Corp is trading up about 0.9% on the day Monday. This buy marks the first one filed by Alesio in the past year.
And on Thursday, Director Stephen V. King purchased $222,500 worth of First Busey Corp. (NASDAQ:BUSE), purchasing 35,000 shares at a cost of $6.36 a piece. First Busey Corp. is trading up about 1.4% on the day Monday. King was up about 4.6% on the buy at the high point of today's trading session, with BUSE trading as high as $6.65 at last check today.
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