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 Thursday, Comstock Resources's CEO, M. Jay Allison, made a $99,999 purchase of CRK, buying 12,500 shares at a cost of $8.00 a piece. Comstock Resources is trading up about 1.6% on the day Friday. Before this latest buy, Allison made one other buy in the past twelve months, purchasing $783,667 shares for a cost of $6.53 a piece.
And on Tuesday, Director Paul J. Bickel III purchased $95,756 worth of Stock Yards Bancorp, purchasing 2,510 shares at a cost of $38.15 a piece. This purchase marks the first one filed by Bickel III in the past twelve months. Stock Yards Bancorp is trading down about 0.7% on the day Friday. Bickel III was up about 1.0% on the purchase at the high point of today's trading session, with SYBT trading as high as $38.55 at last check today.
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