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 Tuesday, GNC Holdings (GNC)'s Interim CEO, Robert F. Moran, made a $5M purchase of GNC, buying 592,259 shares at a cost of $8.44 each. GNC Holdings is trading up about 7% on the day Thursday. This buy marks the first one filed by Moran in the past twelve months.
And also on Tuesday, CEO Dino Robusto purchased $502,080 worth of CNA Financial Corp. (NYSE:CNA), purchasing 12,000 shares at a cost of $41.84 a piece. CNA Financial Corp. is trading up about 0.2% on the day Thursday. Robusto was up about 2.3% on the purchase at the high point of today's trading session, with CNA trading as high as $42.80 at last check today.
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