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 one noteworthy recent insider buy.
At HCI Group, there was insider buying on Wednesday, by Chief Executive Officer Paresh Patel who purchased 1,000 shares for a cost of $36.06 each, for a total investment of $36,062. This purchase marks the first one filed by Patel in the past twelve months. HCI Group is trading up about 2.8% on the day Friday. So far Patel is in the green, up about 4.9% on their buy based on today's trading high of $37.84.
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