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 Independent Bank Group (NASDAQ:IBTX), a filing with the SEC revealed that on Monday, Director G. Stacy Smith purchased 15,186 shares of IBTX, at a cost of $38.89 each, for a total investment of $590,596. So far Smith is in the green, up about 10.0% on their buy based on today's trading high of $42.77. Independent Bank Group is trading up about 1.1% on the day Thursday. Before this latest buy, Smith purchased IBTX on 6 other occasions during the past twelve months, for a total investment of $798,131 at an average of $35.63 per share.
And on Wednesday, CEO Richard Lampen purchased $177,017 worth of Castle Brands (ROX), purchasing 242,300 shares at a cost of $0.73 a piece. Before this latest buy, Lampen bought ROX on 14 other occasions during the past twelve months, for a total cost of $221,669 at an average of $0.98 per share. Castle Brands is trading up about 4.9% on the day Thursday. So far Lampen is in the green, up about 7.7% on their purchase based on today's trading high of $0.79.
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