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.
On Monday, Delta Air Lines (NYSE:DAL)'s CFO, Paul A. Jacobson, made a $972,770 buy of DAL, purchasing 25,000 shares at a cost of $38.91 each. Delta Air Lines is trading down about 0.9% on the day Wednesday.
And on Friday, Director H. Patrick Hackett Jr. purchased $504,545 worth of Wintrust Financial (NASDAQ:WTFC), purchasing 9,500 shares at a cost of $53.11 each. Wintrust Financial is trading up about 1.3% on the day Wednesday. Hackett Jr. was up about 1.4% on the purchase at the high point of today's trading session, with WTFC trading as high as $53.85 at last check today.
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