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 Papa John's International (NASDAQ:PZZA), a filing with the SEC revealed that on Thursday, Director Wayne Kent Taylor bought 8,860 shares of PZZA, for a cost of $57.53 each, for a total investment of $509,680. Taylor was up about 3.7% on the purchase at the high point of today's trading session, with PZZA trading as high as $59.65 at last check today. Papa John's International is trading trading flat on the day Monday.
And also on Thursday, Charles Ward bought $472,600 worth of Veritiv Corp (NYSE:VRTV), buying 20,000 shares at a cost of $23.63 a piece. Veritiv Corp is trading off about 0.4% on the day Monday.
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