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 Capitala Finance Corporation (CPTA), a filing with the SEC revealed that on Wednesday, Joseph B. Alala III purchased 84,950 shares of CPTA, at a cost of $11.60 each, for a total investment of $985,420. So far Alala III is in the green, up about 6.0% on their purchase based on today's trading high of $12.30. Capitala Finance Corporation is trading up about 0.2% on the day Thursday. Before this latest buy, Alala III bought CPTA on 4 other occasions during the past year, for a total cost of $485,518 at an average of $15.92 per share.
And at ONEOK Partners LP (OKS), there was insider buying on Wednesday, by Director John William Gibson who bought 10,000 shares at a cost of $29.18 each, for a trade totaling $291,760. Before this latest buy, Gibson bought OKS at 2 other times during the past twelve months, for a total cost of $341,522 at an average of $34.15 per share. ONEOK Partners LP is trading up about 1.8% on the day Thursday. So far Gibson is in the green, up about 2.8% on their purchase based on today's trading high of $30.00.
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