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 Atlas Financial Holdings, a filing with the SEC revealed that on Tuesday, Director Walter Frederick Walker bought 5,000 shares of AFH, for a cost of $14.08 each, for a total investment of $70,398. Atlas Financial Holdings is trading up about 1.4% on the day Friday.
And at Cherokee, there was insider buying on Wednesday, by Director Susan E. Engel who bought 1,000 shares at a cost of $5.00 each, for a total investment of $5,000. Cherokee is trading off about 9.2% on the day Friday. Engel was up about 22.0% on the buy at the high point of today's trading session, with CHKE trading as high as $6.10 in trading on Friday.
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