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 Casa Systems (NASDAQ:CASA), a filing with the SEC revealed that on Tuesday, Director Bruce R. Evans purchased 250,000 shares of CASA, at a cost of $13.00 each, for a total investment of $3.25M. So far Evans is in the green, up about 15.3% on their purchase based on today's trading high of $14.99. Casa Systems is trading trading flat on the day Wednesday.
And at Trilogy Metals (AMEX:TMQ), there was insider buying on Monday, by CEO Rick Van Nieuwenhuyse who purchased 1,159,096 shares at a cost of $0.83 each, for a total investment of $962,050. This purchase marks the first one filed by Van Nieuwenhuyse in the past year. Trilogy Metals is trading down about 6.1% on the day Wednesday. Van Nieuwenhuyse was up about 43.4% on the purchase at the high point of today's trading session, with TMQ trading as high as $1.19 at last check today.
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