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, Del Taco Restaurants (TACO)'s Director, Lawrence F. Levy, made a $2.51M buy of TACO, purchasing 200,000 shares at a cost of $12.54 each. Del Taco Restaurants is trading up about 2.4% on the day Wednesday. This purchase marks the first one filed by Levy in the past year.
And at Navient Corp (NASDAQ:NAVI), there was insider buying on Friday, by EVP & Chief Financial Officer Christian M. Lown who purchased 6,000 shares for a cost of $12.35 each, for a trade totaling $74,119. This buy marks the first one filed by Lown in the past year. Navient Corp is trading off about 0.9% on the day Wednesday.
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