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 Adtran (NASDAQ:ADTN), a filing with the SEC revealed that on Tuesday, CEO Thomas R. Stanton bought 31,200 shares of ADTN, at a cost of $16.05 each, for a total investment of $500,760. Stanton was up about 2.9% on the buy at the high point of today's trading session, with ADTN trading as high as $16.51 at last check today.
And also on Tuesday, Director James F. Wright bought $162,060 worth of Cabelas (CAB), buying 3,000 shares at a cost of $54.02 a piece. Cabelas is trading up about 0.5% on the day Thursday. Investors have the opportunity to buy CAB at a price even lower than Wright did, with shares trading as low as $53.01 at last check today which is 1.9% below Wright's purchase price.
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