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 Calavo Growers (NASDAQ:CVGW), a filing with the SEC revealed that on Monday, CEO Lecil E. Cole purchased 95,000 shares of CVGW, at a cost of $56.42 each, for a total investment of $5.36M. So far Cole is in the green, up about 4.2% on their buy based on today's trading high of $58.80. Calavo Growers, Inc. is trading up about 2.7% on the day Tuesday.
And on Friday, CEO James Donald Bennett purchased $358,333 worth of SandRidge Energy (NYSE:SD), purchasing 20,000 shares at a cost of $17.92 each. SandRidge Energy is trading down about 1.2% on the day Tuesday. Investors are able to buy SD even cheaper than Bennett did, with the stock changing hands as low as $17.11 in trading on Tuesday which is 4.5% below Bennett's purchase price.
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