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 Loews Corp. (NYSE:L), a filing with the SEC revealed that on Friday, Director Charles D. Davidson purchased 10,000 shares of L, at a cost of $42.38 each, for a total investment of $423,800. Loews Corp. is trading off about 0.3% on the day Wednesday. This purchase marks the first one filed by Davidson in the past twelve months.
And also on Friday, Charles M. Lyon bought $165,059 worth of INTL FCstone (AMEX:INTL), buying 7,080 shares at a cost of $23.31 a piece. Before this latest buy, Lyon made one other purchase in the past twelve months, buying $9,284 shares at a cost of $20.54 each. INTL FCstone is trading up about 2.4% on the day Wednesday. So far Lyon is in the green, up about 6.8% on their buy based on today's trading high of $24.90.
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